3.

Senior Citizens' Savings Scheme (SCSS)

Interest 8.3%
Invest for: 5 years, can be extended by 3 more years
Age: Above 60 years (55 for early retirees)
Investment amount: Rs 15 lakh or money received as retirement benefit, whichever is
lower.
Taxation: 80C benefit available; interest is taxable
Useful for: Senior citizens who need regular income and are in lower tax brackets.
4. Sukanya Samriddhi Yojana

Interest 8.1%
Invest for: Deposits can be made till the age of 14; maturity at 21.
Age: 10 years or less
Investment amount: Rs 1.5 lakh a year.
Taxation: 80C benefit available; interest is also tax free
Useful for: Building long-term wealth for girl child without any risk.

5. Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Interest 8% (this is the pension rate)

Invest for: 10 years
Age: Above 60 years
Investment amount: Up to Rs 7.5 lakh per family (maximum pension of (Rs 5,000 per
month)
Taxation: No 80C benefit; pension also taxable
Useful for Senior citizens who need regular income & are in lower tax brackets.

6. Savings (Taxable) Bonds 2018 (RBI Bonds)

Interest 7.75%
Invest for: 7 years
Age: No limit
Investment amount: No limit
Taxation: No 80C benefit; interest also taxable
Useful for: Investors who need regular income and are in lower tax brackets.