If you are planning to invest money and want some risk-free options, then the central government-run schemes can prove to be handy for you. The Central government-backed investment schemes are available for the public through banks and post offices. If you don’t want to take any risk with your money, you can put your money into these schemes including National Savings Certificate (NSC), Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra (KVP) and Senior Citizens Savings Scheme among others. In the long run, these schemes are capable of doubling your money. Most of these schemes are available with post offices across India and can be availed by visiting the India Post office branches.
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Kisan Vikas Patra (KVP) Return Calculator
Kisan Vikas Patra is capable of doubling your money in 10 years and four months at the interest rate of 7 per cent. Suppose you invest Rs 2 lakh in the KVP scheme today, after 124 months, you will get Rs 4 lakhs. The Kisan Vikas Patra scheme is earning better interest than some Fixed Deposits by the banks.
National Savings Certificate (NSC) Return Calculator
The National Savings Certificate is earning an interest of 6.8 per cent at present. Assuming that government keeps the rate unchanged, the NSC scheme can double your money in around 12 years. Since the investment into the scheme matures in five years, you will have to extend the investment after the 5th and the 10th year. So, if you deposit Rs 2 lakh for five years, at maturity, you will get Rs 2,77,899. Now, if you deposit the maturity amount again for five years, in the 10th year, you will get Rs 3,86,139.
Post Office Fixed Deposit Calculator
Post office time deposit of fixed deposit can also double your money. Since the India Post offers a return of 6.7per cent on FDs of five years, you will have to renew it after every five years. If you invest Rs 2 lakhs, you will get Rs 2,67,000 upon maturity. Now, say if you reinvest it again, you will get Rs 3,56,445 after the next five years. Now, if you reinvest it for two years again (total 12 years), you will get Rs 3,97,079.73 at the rate of 5.7 per cent (interest rate for two years FD).
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Senior Citizens Savings Scheme (SCSS) Maturity Calculator
The Senior Citizens Savings Scheme is giving a return of 7.6 per cent to the investors. If you invest Rs 2 lakh, you will get Rs 2,76,000 after five years at the existing rate. Once you reinvest, you will get Rs 3,72,608 after the next five years. So, after 10 years, you will have Rs 3,72,608. If this is reinvested, it can cross Rs 4 lakh mark in the next one year, so your money will be doubled in 11 years.
