Bangalore: Saving is unspent income, or a delayed expense. There are many methods to save which includes reducing expenses and keeping a record of them and making a budget and setting saving goals.These all comes under primary steps to save money. But there are some secondary steps which prove to be very fruitful while yielding the profits along with the savings. One can have a pension plan, or save money in the bank through a deposit account, invest in a Mutual Fund or investing in a Fixed Deposit scheme. Here are some schemes in India, where saving the money will be a boon.

1. National Savings Certificate (NSC):

NSC is a long term savings option for an investor, which is provided by the Postal Department of Government of India. Any salaried class of publics such as Government employees, Businessmen, and also Job-holders of private sector can hold an NSC. This scheme not only helps in growth of money but also reduces tax as per the provision of the Income Tax Act, 1961. The duration of this scheme is 6 years as mentioned in www.indiapost.gov.in. This certificate can be issued for a single holder or multiple holders, or on behalf of minors. The denominations for NSC are 100, 500, 1, 000 and 10, 000 for a maturity period of 10 years.