Question

List the various schemes available for investment purpose by a family.

Answer 1

1. Post Office: This is one of the oldest savings institutions in the country. Savings and post offices are safe since the state guarantees the amount. There are many schemes run by the post office:
   1. Recurring Deposit Scheme
   2. Monthly Income Scheme (MIS)
   3. National Saving Certificates (NSC)
   4. Public Provident Fund (P.P.F.)
2. Bank: A bank is an institution which accepts deposits from the public and in turn, advances loans, by creating credit. Banks perform numerous functions and render a variety of services:
   1. Fixed Deposit Account
   2. Recurring Deposit Account
   3. Saving Bank Account
   4. Janta Saving Account
   5. P.P.F. Account
   6. Pradhan Mantri Jan Dhan Yojana
3. Life Insurance Schemes: Insurance is a kind of protection against financial losses. _ The Life Insurance Corporation of India (LIC) mainly looks after the insurance of a person's life. It also has policies like new children's money back plan, health plans and pension plans.
4. Public Provident Fund (PPF): The Public Provident Fund scheme is a popular long-term investment option backed by the Government of India. It offers safety with attractive interest rates and returns that are fully exempted from Tax.