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Savings Plan

A savings plan is a financial tool designed to help you save for short-term and long-term goals while providing life insurance coverage. By investing a fixed amount monthly, your money grows in a money-market fund. ...Read More

Explore the range of best savings schemes from HDFC Life that suit your needs:

With investment plans from HDFC Life you can opt for market linked returns or guaranteed1 returns as per your financial goals -

Secure Your Future: Guaranteed1 ReturnsSave tax upto 46,800/-

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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What is a Savings Plan?

image-star image-star image-star image-star image-star image-star image-cloud image-cloud image-cloud moon Buy Savings plans online

Saving plans are life insurance plans designed to help you save for the future. They encourage regular saving habits and can offer substantial returns when needed. The best savings plans also provide insurance coverage, ensuring your family’s financial security in case of unforeseen events.

These plans typically offer a fixed maturity benefit when the policy term ends. Some plans also provide regular income during the policy period or as part of the maturity proceeds. Selecting the right plan with flexible features can help you achieve your life goals, protect your family in unexpected situations, and build a fund to cover future expenses.

Savings plans can be combined with additional benefits, such as death benefits and critical illness riders. These plans are a great way to start saving with low-risk options that also include insurance coverage. For more options, explore different saving schemes that fit your needs.

Why Do You Need Savings Plan?

Why Do You Need Savings Plan?

A savings plan is essential for securing your family's financial future and meeting your financial goals. Regular savings through an investment plans help you prepare for life's uncertainties, such as emergencies, buying a home, or funding education. It's crucial for retirement planning and ensuring financial security for your family. By starting early and investing in a tailored savings plan according to your risk appetite, you can build a solid financial foundation. Prioritizing savings today means a financially stable and prosperous future for you and your loved ones. Start your investment plan now and secure your tomorrow.

List of Best Savings Plan in India

Here is the list of the best savings plans in India 2024, carrying low risk and you must consider adding these plans to your financial portfolio:

Sr. No.

Savings Plan

Interest Rate

1

National Savings Certificate

7.70% paa

2

Senior Citizen Savings Scheme

8.20% pa b

3

Recurring Deposits

2.50% to 8.50%c

4

Post Office Monthly Income Scheme (MIS)

7.40% pad

5

Public Provident Fund (PPF)

7.1% pae

6

KVP (Kisan Vikas Patra)

7.5(115 Months)f

7

Sukanya Samriddhi Yojana (SSY)

8.2%  pag

8

Atal Pension Yojana

N/A 

9

Employee Provident Fund (EPF)

8.25% paj

10

Pradhan Mantri Jan Dhan Yojana

2% above base rate not exceeding 12%h

11

Mutual Funds

8-20% pak

12

Initial Public Offerings (IPO)

8-15% i

13

Unit Linked Insurance Plan (ULIP)

10-24% pak

14 Best Savings Plan

Savings and income plans are important for achieving financial security in the long run. There are a variety of savings and income plans available to individuals depending on their needs and goals.
1

Monthly Income Plans

Monthly Income Plans offer a steady stream of income for a set period. These plans are great for people looking for financial security and regular payouts.

2

Money Back Plans

Money Back Plans provide both periodic payments throughout the policy term and a lump sum payout at the end. This plan combines savings with the benefit of receiving money at regular intervals.

3

Endowment Plans

Endowment Plans provide a lump sum payment at maturity in addition to regular payments throughout the term.

4

ULIPs

Unit Linked Insurance Plans (ULIPs) are investment-linked insurance plans that provide life cover as well as the opportunity to invest in equity or debt markets. 

5

NSC

The National Savings Certificate (NSC) and the National Savings Scheme (NSS) provide risk-free investments with tax benefits. 

6

PPF

The Public Provident Fund (PPF) is a long-term investment option with tax benefits and an assured return. 

7

PO Savings Scheme

The Post Office Savings Scheme offers a range of deposit options with different interest rates. 

8

SCSS

The Senior Citizen Savings Scheme (SCSS) is a government-sponsored savings scheme for senior citizens. 

9

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana (SSY) is a savings scheme for the benefit of girl children.

10

Fixed Deposit

Coming with cumulative/non-cumulative options, FDs offer fixed returns over the investment tenure and the returns are payable on a monthly, annual or bi-annual basis, depending on the bank policy.

11

Atal Pension Yojana (APY)

The Atal Pension Yojana (APY) is a pension plan backed by the government.

12

Employee Provident Fund (EPF)

The Employee Provident Fund (EPF) is a retirement savings scheme for salaried individuals.

13

National Pension Scheme (NPS)

National Pension Scheme (NPS) is a pension and investment scheme for individuals.

14

Kisan Vikas Patra

Kisan Vikas Patra is a government-backed savings scheme which provides an attractive long-term investment option where you get double the amount invested upon maturity.

 

All of these savings and income plans offer different benefits and features that can help individuals meet their financial goals. It is important to understand the details of these plans and choose the ones that best suit your needs and goals.

Get regular returns as you stay covered with our Savings Plans

Our Top Recommended Solutions Suitable for you

  • HDFC Life Sanchay Plus TRENDING

    UIN: 101N134V23

    Looking for safe financial instrument which provides alternate source of income

     

    UIN: 101N134V23

    Looking for safe financial instrument which provides alternate source of income

    Key Features*
    • Guaranteed1 Income4 for period of 25 or 30 years
    • Get Back Premiums as Guaranteed1 Lumpsum Benefit4 on maturity
    • Life Cover to protect your family
    • Guaranteed1 Income4 for period of 25 or 30 years
    • Get Back Premiums as Guaranteed1 Lumpsum Benefit4 on maturity
    • Life Cover to protect your family
    Savings Plan
  • HDFC Life Click 2 Achieve NEW LAUNCH

    UIN: 101N186V04

    Customize the benefits with this flexible savings plan.

    UIN: 101N186V04

    Customize the benefits with this flexible savings plan.

    Key Features*
    • Guaranteed1 Benefits
    • Flexibility in choice of benefits
    • Increasing upto 10% p.a11
    • Guaranteed1 Benefits
    • Flexibility in choice of benefits
    • Increasing upto 10% p.a11
    Savings Plan
  • HDFC Life Sanchay Par Advantage

    UIN: 101N136V03

    Enjoy Lifelong regular income with flexibility of payouts and whole life cover1

    UIN: 101N136V03

    Enjoy Lifelong regular income with flexibility of payouts and whole life cover1

    Key Features*
    • Whole life cover + Lifelong Income3
    • Accumulate survival benefits
    • Immediate income option for your various needs
    • Whole life cover + Lifelong Income3
    • Accumulate survival benefits
    • Immediate income option for your various needs
    Savings Plan

Savings Plans

Plan for your future as you enjoy guaranteed1 returns at regular intervals6.