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Governments in various states of India are running several schemes aimed at promoting the economic empowerment of women. These initiatives, such as the Ladli Behna Yojana in Madhya Pradesh, Majhi Ladki Behna Yojana in Maharashtra, Mukhyamantri Mahila Samman Yojana in Delhi, Maiya Samman Yojana in Jharkhand, and Subhadra Yojana in Odisha, provide direct financial benefits to women.
Women beneficiaries under these schemes can increase their wealth substantially by investing in government-sponsored savings schemes. Here’s how they can accumulate substantial savings:
1. Public Provident Fund (PPF)
PPF is a great option for women who are looking for a safe long-term investment. Beneficiaries of government schemes can open PPF accounts and start saving. With a minimum deposit of Rs 500 and a maximum of Rs 1.5 lakh per annum, the scheme offers an interest rate of 7.1 per cent. Over time, this safe investment can help women build a significant corpus.
2. Mahila Samman Savings Certificate
This newly introduced scheme is designed exclusively for women and is gaining popularity due to its attractive benefits and short duration. The investment ranges from Rs 1,000 to Rs 2,00,000, with a tenure of just two years. The scheme offers a high annual return of 7.5 per cent, which is better than many fixed deposits offered by banks.
3. LIC’s Aadhaar Shila Policy
LIC’s cornerstone policy is a promising alternative. Women between the ages of 8 and 55 years can invest in the scheme, which offers a tenure of 10 to 20 years. For example, if the total investment is Rs 29 per day (Rs 899 per month) over 20 years, the policyholder will receive Rs 3,97,000 on maturity. This strategy combines investment with life insurance benefits and provides a safe option.
By strategically investing the financial aid received through government schemes, women can build a substantial fund for their future. These schemes not only provide financial security but also encourage disciplined saving habits, empowering women to achieve long-term financial independence.
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