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Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.

Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.

PPF vs NPS Comparison: The original duration of SBI's PPF account is 15 years. NPS has a longer lock-in than PPF account and the corpus stays locked-in till the age of 60 years.

The saving account of India Post, which has a network of more than 1.5 lakh post offices across the country, also comes with an ATM facility.

Fixed Deposit (FD) interest rates: In case of a bank fixed deposit, the annual returns on FDs do not change according to geopolitical and macroeconomic uncertainties.

Investment under Post office Senior Citizen Savings Scheme also qualifies for the benefit of Section 80C of the Income Tax Act.

Employees' Provident Fund Organisation is the nodal agency to monitor EPF contributions, which is shared equally between employees and employer.

The government offers nine types of small savings schemes, such as Time Deposit, Savings Account, Recurring Deposit, Senior Citizen Savings Scheme (SCSS), Public Provident Fund and National Savings Certificate (NSC).

Fixed deposit (FD) interest rates: Most banks offer fixed deposits starting from seven days up to a tenor of 10 years.

Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.

State Bank of India (SBI), the country's largest lender, offers a host of services to its customers. PPF (Public Provident Fund) account, one such product offered by the lender, is a retirement planning-focused instrument. Public Provident Fund (Amendment) Scheme, 2016 was introduced by the National Savings Organization in 1968 to mobilize small savings. A PPF account provides an investment avenue with decent returns coupled with income tax benefits, according to SBI's corporate website - sbi.co.in. Individuals in their own name as well as on behalf of a minor can open PPF account at any branch.

Interest rates on post office saving schemes move in line with the government's interest rates on small savings schemes, which are revised on a quarterly basis.

State Bank of India (SBI), the largest lender of the country, offers the option of opening a recurring deposit (RD) account that allows customers to save a fixed sum every month and earn an interest income on the same. Interest rates offered on recurring deposits (RDs) are the same as that on fixed deposit (FD) accounts, noted the lender on its corporate website- sbi.co.in. The difference is that in case of FDs, customers have to deposit the amount and keep it blocked until a fixed maturity period. While in case of RDs, customers can deposit the sum every month and thus RDs help them their build their savings through regular deposits.

Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.

Under SBI annuity deposit scheme, premature payment is permitted only in case of death of depositor.