Below the schemes eligible under section 80C up to 1.5 lakh per year. but you may also take care about Return on investment, locin period and tax on returns.
| Savings Scheme | Rate | Tax-free principal? | Tax-free
Interest |
Locin Period | Min-max amount /annum |
| EPF | 8.5 | yes | yes | 5* | 21,600 to 1,80,000 |
| Public Provident Fund (PPF) | 8.0% | yes | yes | 15 | 500-1.5lakh |
| Sukanya Samriddhi Yojana | 8.5% | yes | no | 21 | 1K-150K |
| National Savings Certificate | 8.0% | No | No | 5 | 100-to NA |
| ELSS (Equity Linked Savings Scheme) | Market Linked | No | up to 1 lakh remaining @10% LTCG | 3 | 100-NO limit |
| ULIP | Market Linked | No | No | 5 | 2500-no limit |
| NPS (National Pension Scheme) | Market Linked | No | 40% tax-free | Till the age of 60 | 1K to no limit |
| Tax Saving FDs (5 years) | 6.5* | No | No | 5 | 1000to no upper limit |
| Bank Saving Account* | 4% | no | no | 0 | |
| Bank Recurring Deposit RD | 6%* | no | no | 6months | |
| Post Office | |||||
| PO Savings * | 4.0% | No | No | 0 | 50-no |
| Post Office RD | 7.3% | No | No | 5 | 5 to NA |
| PO MIS | 7.7% | No | No | 5 | 1500-4.5 lakh |
| Post Office Time Deposit (1 year) | 6.9% | No | No | 1 | 200-unlimited |
| Post Office Time Deposit (2 years) | 7.0% | No | No | 2 | 200-unlimited |
| Post Office Time Deposit (3 years) | 7.2% | No | No | 3 | 200-unlimited |
| Post Office Time Deposit (5 years)* | 7.3% | No | No | 5 | 200-unlimited |
| Kisan Vikas Patra (KVP) | 7.7% | No | No | 5 | 1000-to unlimited |
| Senior Citizens’ Saving Scheme (SCSS) 60 years above | 8.7% | No | no | 5 | 1K to 150K |
| Pradhan Mantri Vaya Vandan Yojana (PMVVY) (above 60) | 8.0% | No | No | 5 | 1Kto 15 lakhs |
| Atal Pension Yojana | 8.0% | No | No | up to 60 years | 42-4333 |
Disclaimer: there will major changes in interest & taxation based on budget announcements.
Post Office 5 year RD & FD also comes under t section 80C. MIS & saving account doesn’t fall under Section 80C.
Post office Saving Schemes
Kisan Vikas Patra
- This Scheme has 10 Years lakhs in period main Aim for this You amount get double in 9 years* 118 Months.
- KVP Available for anyone not only for farmers. No tax benefits either.
SCSS Senior Citizen Saving Scheme
- This scheme Better only available for 60+ year age above.
- invested amount up to 15 lakhs.
- Quarterly pension payment at 8% Interest rate. tax benefits under section 80c and 80TTB.
Post Office Recurring deposit
- 5 Years Recurring deposit Available under section 80C*.
- You can Add every month to post office account as SIP / EMI/ Installment. after 5 years you get the Amount.
- 1% better returns than Banks.
Post Office Term deposit FD
- This Same as Fixed deposit Account available with all banks. but here post office pays 1% extra interest 7% as of now for 5 years.
- This Scheme term Available in 1 year, 3 years and 5 years.
- All 5 years Fixed deposits eligible for Tax deduction under 80c, but interest earned is taxable not like PPF, ELSS, But NO TDS Deducted at Post office but banks do.
Post office Monthly Income Scheme
- Its better for fixed income for senior citizens as well as individuals above 18+ years.
- this scheme involves depositing 4.5Lakhs for 5 years. you get Monthly income on it. the interest rate of 7%.
- 2+ accounts can be open on members of the family.
- just like FD with Monthly returns. Ex: if you invest 9 Lkhs you get approximately 4,500 Month. after 5 years your 9 lakhs will be available to you. or you can renew.
National Savings Certificates Account NSC
(VIII Issue) for 5 years Locking
IX 10 years discontinued.
- Here investor can purchase a certificate one time with amount 100-no limit. its 5 years lock-in period.
- your interest also automatically reinvest in NSC. NOTE Its a Lupsump.
- just like 5 Years FD but better Returns. Tax benefits: you can claim interest earned NSC as an investment.
Post office Saving account
- same as bank Account but interest rate 4% (while sbi 3.5%). minimum account opening with 20INR.
- The net banking facility also there. it compulsory when you buy a PO MIS Plan.
- above Schemes Only Available with Post Offices only.
PPF, Sukanya Samriddi yojana, and NPS Available through Both banks & post offices.
