INVC NEWS
Mumbai : Today women are moving forward shoulder to shoulder with men in every field. However, recently a report came, according to which 80 percent of the women of the country lack financial literacy. Meaning that there is a large part of the female population which does not have much understanding of saving money and taxes.
Women also do jobs and business in large numbers. In such a situation, they also need to be more aware about financial matters. Earlier there was a separate tax slab for women and they got more exemptions than men. But, now there is no relaxation on the basis of gender in the tax slab.
In such a situation, we are telling some such options by investing in which women can get good returns. Besides, you can also save tax.
Mahila Samman Savings Card
Mahila Samman Savings Certificate Scheme is especially for women. In this, working or business women as well as minor girls can invest with the help of their parents. This scheme works like FD i.e. fixed deposit. In this, investment starts from Rs 1 thousand and you can deposit up to Rs 2 lakh. It gives interest of 7.5 percent.
There is no separate tax exemption in Mahila Samman Savings Certificate, but you do not have to pay any tax on the interest amount. If you invest Rs 50,000 in the scheme, you will get Rs 58,011 after 2 years. Whereas, on depositing Rs 1 lakh, you will get Rs 1,16,022 and on depositing Rs 2 lakh, you will get Rs 2,32,044.
This scheme was announced by Finance Minister Nirmala Sitharaman in the budget last year. The thing to note is that you can avail the benefit of Mahila Samman Bachat Patra Scheme only till March 2025.
Sukanya Samriddhi Yojana
If you are the mother of a child whose age is less than 10 years, then you can take advantage of this scheme. Under this scheme, you can open an account in any post office or bank for Rs 250. In this you can deposit a maximum of Rs 1.5 lakh in a year. Tax exemption is also available on this investment. The interest rate is 8.2 percent per annum.
The benefit of this scheme can be availed on two daughters. However, if there is already a daughter in the family and then twins or more girls are born together, then they can also become beneficiaries of the scheme. Even if you have adopted a daughter, you can open her account under Sukanya Samriddhi Yojana.
LIC’s Aadharshila Policy
LIC’s Aadharshila policy is also a great plan for women from financial perspective. This is a non-linked personal life insurance scheme. In this, only 8 year old girl to 55 year old woman can invest in LIC Aadharshila Plan. The term of this policy is for minimum 10 and maximum 20 years. Women also get loan benefits under the scheme.
By investing in this, you get a fixed amount on maturity. If the investor dies before the policy matures, the family also gets financial help. In this case, LIC gives at least Rs 75,000 to the nominee as basic sum assured. At the same time, you can get a maximum of Rs 3 lakh.
If a woman invests Rs 87 every day in Aadharshila policy, she will get huge returns. According to this, Rs 2,610 will be deposited in a month and a total of Rs 31,320 will be deposited in a year. If the policy is for 10 years, you will be able to deposit a total of Rs 3,13,200. When the policy matures at the age of 75, you will get more than Rs 11 lakh.
