Return - 8% pa,
Tenure - 15 years,
Minimum investment - Rs 500,
Maximum investment - Rs 70, 000.
Assured but not fixed returns since interest rates change as per government rules from time to time, amount invested can be deducted from taxable income.

Employer and employee contribute 12% of annual income.
Out of the total 24% contribution, 8.33% is given towards a family pension plan.
The remaining portion (15.67%) grows at a rate of 8.5% per annum.
Amount invested can be deducted from taxable income.

Read on for some more tax saving investments...

Image: Denise Jameson wears a costume while carrying a sign to remind people passing on foot and in cars that it is income tax filing season outside a tax consulting business in San Francisco, California. | Photograph: Robert Galbraith/Reuters

Also read: Smart ways to be financially aware

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