Savings schemes are investment schemes launched by the Government of India or other public sector financial institutions for Indian citizens. The main aim of these schemes was to cultivate the habit of savings among the citizens. Since the government backs these saving schemes, they are safe and offer significant returns. Also, most of these schemes offer tax benefits to their investors. Savings schemes cater to a wide range of investors. In other words, these schemes have a special focus on different milestones. For example, there are schemes for retirement purpose, for children's higher education, girl child, etc. Hence, they are ideal long term investments that come with a lock-in period and have the capacity to generate significant returns.