ELSS (Equity Linked Savings Scheme): Offers high returns with a lock-in period of 3 years and qualifies for deduction under Section 80C of the Income Tax Act.
PPF (Public Provident Fund): Backed by the government, PPF offers tax-free returns and deductions up to ₹1.5 lakh annually under Section 80C.
NPS (National Pension System): NPS provides retirement benefits with additional tax deduction of ₹50,000 under Section 80CCD(1B), ideal for long-term planning.
Tax-Saver FDs (Fixed Deposits): Fixed deposits with a 5-year lock-in offer tax deductions under Section 80C, though interest earned is taxable.
Sukanya Samriddhi Yojana (SSY): Exclusive for girl children, SSY offers high interest rates and tax exemption on investment, interest, and maturity amount.