Hi all,

There are plenty of schemes available in order to save your money.Depending on your budget you can choose one.

National Savings Schemes : It is one such a post office saving product.A low risk investment with few benefits.

Under this Scheme you can invest a very low amount that includes tax benefits.You can buy an NSC account in your name by investing any amount as you desire (min 1000), with a fixed maturity of five years.There is no maximum limit for the same.Current  interest rate of an NSC is 6.8% annually.

Benefits : 

• NSC acts as an tax saving scheme under this account holder can claim up to Rs.1.5Lakh 
• Low -risk investment
• You can use this NSC details while filing your annual tax, the amount you have deposited will get deducted

How to get an NSC account?

1. Currently online options are not available.
2. Visit nearest post office
3. Collect NSC form
4. Attest address proof and Identity proof (Adhara card/ PAN card).
5. You need to paste 2 of your latest photo
6. You need to nominate a person(in case if you are nominee is minor the you need to have an adult as a witness and require there details and signature). In Case if you are nominee is major then you need to write there name and relation only.
7. You can make the payment of your investment by cash/cheque or demand draft.
8. After processing your request you will finally receive a Passbook of NSC.

Gold bond Scheme.

Under this Scheme, One can buy gold bond(Physically not gold, it's just a bond paper with the details of the amount you invested and gram of gold you purchased). The rate of gold bond depends on the gold value of the investors, investment date.Investor can buy minimum of 1gram and max of 4kg gold.After a maturity of fixed 5 years you can return the bond back to post office on your desired time and claim the gold amount back.They will payout the amount depending on the gold value of the day that you wish to close your account.

Benefits:

• Compared to physical gold this gold bond allows you to get a lower price.
• Interest rates are available on this bond.
• They do not posses any holding or storage cost.
• Since there are issued by government, it is tension free 
• It can be used as collateral for loans.
• No wastage and making charges

How To get a gold bond?

• There are different organizations providing such scheme however I would like to prefer that is given in post office.
• Visit nearest post office 
• Collect the form 
• Attest it with required proofs and nominee details.
• Buy the gold depending on that particular day gold value.
• After processing your request you will received a gold bond (not a physical gold).

Hope it was informative.