
Bank fixed deposits are favored by risk-averse investors for stable returns. However, if you are seeking alternative schemes that are backed by the government and offer higher interest rates than most FDs, here's a list of options.

The Senior Citizens Savings Scheme (SCSS) offers Indian retirees a secure investment with guaranteed returns. Eligible individuals can invest a minimum of ₹1,000, with a maximum limit of ₹30 lakh. The scheme provides attractive quarterly interest payouts an…