All Government Schemes Comparison 2026 — Eligibility, Returns, Benefits
India offers 15+ government schemes for savings, pensions, and insurance. This master comparison table helps you understand eligibility, returns, lock-in periods, and tax benefits across all major schemes so you can build a diversified savings portfolio.
Updated: May 6, 2026
Savings Schemes Comparison
These schemes focus on building wealth with guaranteed or semi-guaranteed returns. They offer tax deductions under Section 80C and are ideal for conservative investors.
| Scheme | Eligibility | Current Rate (2026) | Lock-in Period | Tax Benefit | Min/Max Investment |
|---|---|---|---|---|---|
| Public Provident Fund (PPF) | All Indian citizens 18+ | 7.10% p.a. | 15 years (extended) | Section 80C (₹1.5L limit) + Interest Tax-free | Min ₹500, Max ₹1.5L/year |
| Sukanya Samriddhi Yojana (SSY) | Girl child under 10 years | 8.20% p.a. | 21 years (withdrawals from 18) | Section 80C (₹1.5L limit) + Interest Tax-free | Min ₹1,000, Max ₹1.5L/year |
| National Savings Certificate (NSC) | All Indian citizens | 6.80% p.a. | 5 years (7 year option) | Section 80C (₹1.5L limit) + Interest Tax-free | Min ₹1,000 (multiples of 100) |
| Kisan Vikas Patra (KVP) | All Indian citizens 18+ | 6.95% p.a. | 118 months (~10 years) | Section 80C (₹1.5L limit) + Interest Tax-free | Min ₹1,000, Max ₹3L (extended) |
| Fixed Deposit (Post Office) | All Indian citizens | 6.70% (5Y) | 1, 2, 3, 5 years | Interest taxable | No limit |
| Recurring Deposit (Post Office) | All Indian citizens | 6.40% (5Y) | 5 years | Interest taxable | ₹100-1000/month choices |
Pension & Retirement Schemes Comparison
These schemes provide regular income during retirement. APY and NPS are popular with self-employed and employed individuals. They offer Section 80CCD tax deduction.
| Scheme | Eligibility | Key Feature | Lock-in Period | Tax Benefit | Monthly Pension (₹) |
|---|---|---|---|---|---|
| Atal Pension Yojana (APY) | All Indian citizens 18-40 | Guaranteed pension based on contribution tier | Till age 60 (fixed pension then) | Section 80CCD (₹42,000/year) | ₹1,000 to ₹5,000 (based on age & contribution) |
| National Pension System (NPS) | All Indian citizens 18-65 | Self-directed or auto-managed investment | Till age 60 (partial withdrawal allowed) | Section 80CCD (₹42,000 + ₹50,000 extra for ₹2L+) | Depends on market performance |
| Senior Citizens Savings Scheme (SCSS) | Senior citizens 60+ (55 if superannuation) | Quarterly income + principal repayment | 5 years | Interest taxable but 50% deduction possible | Quarterly interest ₹500-2000 on ₹1L |
| Post Office Monthly Income Scheme (POMIS) | All Indian citizens 18+ | Monthly income in savings account | 5 years | Interest taxable | ₹1,500-₹9,000 (on ₹3-18L investment) |
Insurance & Protection Schemes Comparison
These are affordable government-backed insurance schemes for life and health protection. Premiums are minimal and coverage is substantial.
| Scheme | Eligibility | Coverage Amount | Annual Premium | Key Benefit | Tax Deduction |
|---|---|---|---|---|---|
| Pradhan Mantri Jeevan Jyoti Bima (PMJJBY) | 18-50 years, bank account holder | ₹2 lakhs (death benefit) | ₹330/year (flat) | Lowest cost term insurance, auto-enrollment | No deduction (insurance premium) |
| Pradhan Mantri Suraksha Bima (PMSBY) | 18-70 years, bank account holder | ₹2 lakhs (accidental death/disability) | ₹20/year (flat) | Accident coverage, cheapest option | No deduction |
| Ayushman Bharat (PMJAY) | Identified beneficiaries per state | ₹5 lakhs/year (family) | ₹0 (fully govt-funded) | Hospitalization coverage, cashless treatment | No premium payment |
| Pradhan Mantri Jan Arogya Yojana | Identified low-income families | ₹5 lakhs family coverage | ₹0 (fully govt-funded) | Secondary and tertiary care, 50,000+ hospitals | No premium payment |
Credit & Housing Schemes
These schemes provide credit access or housing support for entrepreneurs and homebuyers.
- PM-SVANidhi: ₹10,000 to ₹50,000 loans for street vendors at 0% interest for 2 years (after interest subsidy). Easy repayment via UPI/card.
- PM Mudra Yojana: ₹50,000 to ₹10L loans for non-farm small businesses. No collateral required. Available from all banks and NBFC.
- Pradhan Mantri Awas Yojana (PMAY): Credit Linked Subsidy Scheme (CLSS) offers ₹6L interest subsidy for home loans up to ₹6L (EWS category) or ₹9L (LIG). Saves ₹6-9L on interest over loan tenure.
- PM Jan Dhan Yojana (PMJDY): Zero-balance bank account with ₹2L accidental death insurance. Doorstep banking and direct benefit transfer for welfare schemes.
Scheme Selection Guide by Goal
Goal: Build Long-Term Wealth (15+ years)
Best schemes: PPF (7.10%), Sukanya Samriddhi (8.20% for daughters), NPS (market-linked returns). Invest monthly maximums in PPF or SSY, then use NPS for additional tax savings. By age 50, you can accumulate ₹30-50L.
Goal: Get Tax-Free Returns
Best schemes: SSY (8.20% interest is tax-free), PPF (interest is tax-free), NSC (interest is tax-free). These give guaranteed returns without any tax burden—ideal for senior citizens or those in high tax brackets.
Goal: Create Monthly Income
Best schemes: Senior Citizens Savings Scheme (₹1,000-2,000/month on ₹1L), Post Office POMIS (₹1,500-9,000/month), Dividend-yielding mutual funds. SCSS and POMIS are perfect for retirees needing monthly cash flow.
Goal: Insure Against Death/Accident (Cheap)
Best schemes: PMJJBY (₹330/year for ₹2L coverage), PMSBY (₹20/year for ₹2L accidental). These are the cheapest insurance options in India. Every family should have at least PMJJBY.
Goal: Access Emergency Credit (Self-Employed)
Best schemes: PM-SVANidhi (if street vendor, 0% interest), PM Mudra Yojana (up to ₹10L, low interest). Both don't require collateral and have flexible repayment.
FAQ: Government Schemes
Is PPF or SSY better for long-term investment?
SSY (Sukanya Samriddhi) is better at 8.20% vs PPF's 7.10%, but only available for girl children below 10 years. PPF is available for all and can be opened at any age. If you have a daughter, max out SSY first, then use PPF for yourself.
Can I withdraw from PPF before 15 years?
Partial withdrawal is allowed from age 7 onwards (after completing 7 years), up to 50% of the balance in the previous year or 50% of the balance in the year before that—whichever is lower. Full withdrawal is allowed after 15 years or after age 60 (no lock-in). Early withdrawal before 15 years loses compounding benefit.
What is the difference between APY and NPS?
APY gives a guaranteed fixed pension from age 60 (₹1,000-5,000 monthly based on contribution). NPS returns depend on market performance and have higher flexibility but no guaranteed income. APY is simpler for those wanting guaranteed retirement income; NPS is better for those comfortable with market risk and wanting higher returns.
Are government schemes 100% safe?
Yes, all government schemes mentioned here are issued or backed by the Government of India. They are as safe as your bank account and don't carry counterparty risk. PPF, SSY, SCSS, NSC, and KVP are safer than even bank FDs because they have sovereign backing.