Business Jargons

Definition: The Post Office Savings Account is the deposit scheme offered by the department of post on which fixed interest is paid. The individual investors deposit a good portion of their financial assets in a postal savings account in order to earn a fixed rate of interest on the investments. The post office savings account is similar to a saving bank account ( a portion … [Read more...] about Post Office Savings Account

Definition: The Employee Provident Fund, popularly known as PF is the retirement saving scheme available to all the salaried employees, is backed by the government on which fixed interest is paid. The employee provident fund is administered by the Employees Provident Fund Organization (EPFO), a statutory body developed by the government of India under the Ministry of Labor … [Read more...] about Employee Provident Fund

Definition: The National Pension Scheme or NPS is a Government backed voluntary saving scheme that aims at inculcating saving habits for retirement amongst the citizens. It is designed to encourage systematic saving during the subscriber’s working life with an aim to offer old-age income or fixed retirement income to all the citizens of India, even NRIs. The NPS (National … [Read more...] about National Pension Scheme (NPS)

Definition: Atal Pension Yojana, popularly known as APY Scheme is the government pension scheme offered to those individuals who are employed in rural and the unorganized sectors and are not the members of any social security scheme. The Atal Pension Yojana was named after Mr. Atal Bihari Vajpayee, ex-Prime Minister of India. The aim of this policy is to provide the fixed … [Read more...] about Atal Pension Yojana

Definition: Sukanya Samriddhi Account, also called as Girl Child Prosperity Account is the saving scheme backed by the Government of India on which the fixed interest is paid. This scheme was launched for the parents of a girl child to encourage them to save funds to meet the future expenses incurred in the higher education and marriage of their girl child. The Sukanya … [Read more...] about Sukanya Samriddhi Account

Definition: The Kisan Vikas Patra is a government small saving scheme offered by the department of posts, which guarantees that the amount invested gets doubled in 110 months, i.e. 9 years and 2 months. Kisan Vikas Patra is a saving certificate that comes in the denominations of Rs.1000, Rs.5,000, Rs.10,000 and Rs.50,000. These certificates are backed by the government of … [Read more...] about Kisan Vikas Patra

Definition: The Senior Citizen Saving Scheme or SCSS is a short-term government saving scheme meant for the Indian citizens of the age of more than 60 years. The purpose of SCSS is to fulfill the needs of senior investors, who seeks for guaranteed returns, regular payouts, and safety of capital. The Senior Citizen Saving Scheme is backed by the government of India on which … [Read more...] about Senior Citizen Saving Scheme

Definition: The National Saving Certificate or NSC is the small-saving government scheme offered by the department of post and is available in several denominations of Rs 100, Rs. 500, Rs. 1000, Rs. 5,000, and Rs. 10,000. The National Saving Certificate is the fixed investment scheme backed by the government of India on which a fixed and regular interest is paid. NSC is one … [Read more...] about National Saving Certificate

Definition: The Public Provident Fund, popularly known as PPF is the long-term saving scheme introduced by the Ministry of Finance (MoF) in 1968. The purpose of the PPF is to mobilize the small savings of individual by offering them investments that carry a reasonable return along with the income-tax benefits. The Public Provident Fund is a tax saving instrument backed by … [Read more...] about Public Provident Fund