Government schemes: Who doesn’t want to save money? Everyone wants! FDs and saving accounts are two of the most common saving tools utilized by the majority of Indians. However, the market is filled with numerous savings and investment schemes including government schemes.

Many individuals believe that the return of government schemes is not as high as the private saving schemes provide, but, it’s not true. Government schemes offers a high return on investment with less risk or almost 0% risk.

Here, we will uncover  top government Investment schemes with 0% risk. These investment schemes are either backed by government respective authorities or by the government directly.

Best Indian Government Schemes If you are looking forward to Investing in some lucrative government-based scheme for investment, here are some of the top options to explore.

Sukanya Samriddhi Yojana: Launched in 2015, it is a savings scheme for girl child that was launched as a part of the ‘Beti Bachao Beti Padhao’ campaign. This scheme is popular amongst the citizens of India due to its tax benefit under section 80C of the Income Tax Act. One can invest a minimum amount of Rs 1,000 and a maximum of Rs 1.5 lakh per annum in this scheme. In addition to this, the account under this scheme is operative for 21 years from the date of opening.

National Pension Scheme: It is a government-backed scheme that was launched in 2004 for the government employees. Further, this scheme was opened to all the citizens of India in 2009. This scheme is one of the best retirement saving plans in which a person in the age group of 18 to 60 can make investments. Under this scheme, the investor can allot his/her funds in equity, corporate bonds and government securities, and investments up to Rs 50,000 is liable for deduction under Section 80CCD (1B). However, additional investments of up to Rs. 1,50,000 is liable for tax deduction under section 80C of the Income Tax Act.

Public Provident Fund: PPF is one of the most popular long-term investment schemes backed by the Government of India. This scheme offers attractive rate of interest and the returns earned from this scheme are fully exempted from tax. In this scheme, the investor can claim a tax deduction up to Rs 1.5 lakh under section 80C of the Income Tax Act.

National Savings Certificate: It is a fixed investment savings scheme that can be opened in a post office. The minimum amount required to be invested in this scheme is Rs 100 whereas there is no maximum limit of investment. Investments of up to Rs 1.5 lakh are eligible for tax deduction under section 80C of the Income Tax Act. Besides, this scheme comes with 2 maturity periods i.e. 5 years and 10 years.

Pradhan Mantri Jan Dhan Yojana: Pradhan Mantri Jan Dhan Yojana (PMJDY) was announced on August 15, 2014, by the Prime Minister of India, Narendra Modi. The main aim of this scheme is to provide financial services and products to individuals who do not have access to a bank account. An Indian resident who is 18 years or above can open an account under this scheme. Under this Yojana, an individual can open a zero balance account. However, if one wants to avail the cheque facility then it is mandatory to maintain the minimum balance as per the norms of the bank. In addition to this, overdraft facility is allowed to the investor after satisfactory operation of the account for 6 months.

Kisan Vikas Patra: Kisan Vikas Patra is a saving certificate scheme sponsored by the Government of India. Initially this scheme was introduced only for farmers but now is open to all. The tenure of the Kisan Vikas Patra scheme is 112 months which is equal to nine years and four months. One can make a minimum investment of Rs 1,000 while there is no upper limit. However, no tax benefit can be gained from this scheme but one can held this scheme as a collateral for a bank loan.

Sovereign Gold Bonds (SGBs)

A sovereign gold bond, shortly known as SGB, is the best option available for investors when they don’t want to own and save gold. Apart from that, the bond comes in Demat form, and TDS is not applicable. SGB is one of the best government investment schemes available for those who want to ensure transparency. Moreover, it is a safe scheme that will help provide financial stability in life.