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Five safe fixed-income investment options that offer guaranteed returns
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₹9 lakh under single ownership and ₹15 lakh under joint ownership. POMIS offers an interest rate of 7.4% payable monthly. PPF is a popular long-term savings scheme in India.
At present, it offers an interest rate of 7.1%. It is fully secured with a government guarantee. PPF has a maturity of 15 years which can be further extended by five more years.
The contribution to PPF is eligible for deduction under Section 80C of the Income Tax Act. Bank FDs are the most popular investment option, especially among senior citizens in our country. In case of a bank failure, bank deposits up to ₹5 lakh are insured by the Government.
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