Banks Hide These! Five Office Schemes That Beat FD Returns 

Do you think FD is your best bet? Think again because Banks will never share these secrets with their customers: these five Office Schemes offer higher interest, government backing and low risk as well as provide higher return than Fixed Deposit.

The following are the five schemes:

1. Time Deposit Account

It is a financial account where you deposit a lump sum of money for a fixed period at a fixed interest rate. This plan is mostly from 1 to 5 years with interest up to 7.5% and Customers can start with a minimum amount of Rs 1,000. There is no upper limit.

2. National Saving Certificate (NSC)

It is a government-backed fixed-income savings scheme available through India Post and Designated banks for Indian residents designed to encourage long-term savings. This plan includes interest of 7.7% Annually with Lock-in for 5 years. Customers can start with a minimum amount of Rs 1,000 and there is no max limit.

3. Monthly Income Scheme (MIS)

A Monthly Income Scheme (MIS) is an investment product often offered by banks and post offices that provides a regular and steady income to the investor through monthly interest payments on a deposited lump sum. Customers can invest upto Rs 9 lakh (Individual), Rs 15 lakh (Joint) and with an interest rate of 7.7%.

4. Senior Citizens Saving Scheme (SCSS)

It is a government-backed investment product in India designed to provide a secure and steady income to senior citizens after retirement. Customers aged 60+ can invest from Rs 1,000 to Rs 30 lakh. They will get interest quarterly, whereas the return is 8.2% fixed annually.

5. Kisan Vikas Patra (KVP)

It is a certificate-based savings scheme of the Government of India available through post offices and select banks where the invested amount doubles in 115 months as per the current interest rate. Minimum limit of Rs 1000 whereas there is no upper limit. This is safe for long–term investment.