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A savings plan helps you save money for short-term and long-term goals while also providing life insurance cover. You invest a fixed amount regularly, which grows steadily... Read more with low risk, making it suitable for conservative investors. It can support goals like child’s education, retirement, and general savings, while also offering financial protection to your family. These plans may also provide tax benefits5 under Section 80C and tax-free maturity benefits under Section 10(10D), as per applicable laws. Read less

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Pay ₹1 Lakh for 6 years¹,
Get ₹41,080 for 25 years⁸
with Life cover

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What is a savings plan?

A savings plan is a type of life insurance product that combines systematic savings with financial protection, helping you build a secure financial future. It is designed to encourage disciplined saving while offering insurance coverage, so you can work towards your short-term and long-term goals with confidence. By investing regularly, you create a corpus that grows steadily over time and supports major life needs such as education, marriage, or retirement.

Many savings plans provide a fixed maturity benefit payable at the end of the policy term, ensuring predictable returns. Many plans also offer flexibility in how you receive payouts, either as a lump sum or periodic income. In addition, savings plans can be enhanced with features such as death benefits to protect your family’s financial stability and optional critical illness riders⁷ for added protection. With low-risk returns and built-in insurance cover, savings plans offer a balanced approach to wealth creation and security.

Popular Tata AIA Savings Plans

Tata AIA Sampoorna Raksha Promise

Tata AIA

Fortune Guarantee Supreme

Enjoy steady growth and a guaranteed 6%² IRR
Get guaranteed³ income from the 1^st month
Use income to pay or offset the premiums payable towards the policy

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Individual, Non-Linked, Non-participating, Life Insurance Savings Plan
(UIN: 110N163V12)

Tata AIA Maha Raksha Supreme Select

Tata AIA

Fortune Guarantee Plus

100% premium back⁴
Critical Illness Cover
Guaranteed³ income + booster benefit to fulfil your financial goals

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Individual, Non-Linked, Non-participating, Life Insurance Savings Plan
(UIN: 110N158V14)

Why invest in a savings plan?

Investing in a savings plan is an effective way to build long-term financial stability. It enables disciplined and consistent savings, helping you stay prepared for unforeseen financial obligations, such as medical expenses, home purchases, or funding your child’s education. A savings plan also facilitates retirement planning by creating a surplus fund for your post-retirement years while ensuring financial protection for your family. Starting early and selecting a plan aligned with your financial objectives and risk appetite allows your wealth to grow gradually over time. Building a regular savings habit today may help you achieve key life milestones without financial stress, ensuring a secure and comfortable future for you and your loved ones.

Product Illustration of Fortune Guarantee Plus

Regular Income
Regular Income + Critical illness

Regular Income

Mr. Nakul, aged 30, is a small business owner. Worried by the uncertain nature of life, he wants a steady income for himself and his family in the future. He opts for Tata AIA Fortune Guarantee Plus | Regular Income Option.

Premium Payment Term - 12 years | Policy Term - 12 years | Income Mode -Annual | Annual premium - ₹1,00,000 (Excl. GST)¹

Age

Pays 1 Lakh for 12 years. Total = 12 Lakh

Gets ₹1.1 Lakh for 30 years

Guaranteed* benefit

₹43,81,200

Pays 1 Lakh for 12 years. Total = 12 Lakh

Gets ₹1.1 Lakh for 30 years

Guaranteed* benefit

₹43,81,200

Total Guaranteed* Benefit = 1,11,040x30 (annual income) + 1,00,000x12 (get premiums back) = ₹43,81,200

Life Cover = ₹12.5 Lakh

Calculate Premium

*T&C Apply

Regular Income + Critical illness

Mr Rahul, aged 35, is an IT professional and is doing well at present. He wants a steady income for himself and his family in the future. He opts for Tata AIA Fortune Guarantee Plus- A savings insurance plan with Regular Income + Critical Illness Option.

Premium Payment Term - 10 years | Policy Term - 10 years | Income Mode -Annual | Annual premium - ₹1,00,000 (Excl. GST)

Mr Rahul, aged 35, is an IT professional and is doing well at present. He wants a steady income for himself and his family in the future... Read moreHe opts for Tata AIA Fortune Guarantee Plus- A savings insurance plan with Regular Income + Critical Illness Option. Premium Payment Term - 10 years | Policy Term - 10 years | Income Mode -Annual | Annual premium - ₹1,00,000 (Excl. GST) Read less

Age

Premium Payment starts ₹1 Lakh annually

Premium of ₹7 lakh is waived off from 4th year

Diagnosed with illness pays only ₹3 Lakh premium

Gets ₹83,400 for next 33 years

Guaranteed* benefit

₹29,57,870

Premium Payment starts ₹1 Lakh annually

Gets ₹83,400 for next 33 years

Guaranteed* benefit

₹29,57,870

Total Guaranteed Benefit* = ₹83,400x33 years (Annual income) + ₹1,00,000x3 (Get premiums back) = ₹29,57,870

Life Cover = ₹12.5 Lakh

Get customized plan

*T&C Apply

Top Savings Plans in India

Choosing the right savings plan often depends on how long you can stay invested, how much risk you are comfortable with, and what you expect in return. In practice, most investors use a mix of options rather than relying on a single plan. The table below gives a clear comparison to help you understand how these plans work across different situations.

Plan Name	Returns	Lock-in Period	Tax Benefits 5	Minimum & Maximum Investment
Public Provident Fund (PPF)	~7.1% (government-backed, revised quarterly)	15 years	Section 80C (up to ₹1.5 lakh), tax-free⁵ returns	Min ₹500/year, Max ₹1.5 lakh/year
Employee Provident Fund (EPF)	~8%–8.5% (varies yearly)	Till retirement (partial withdrawal allowed)	Section 80C, tax-free⁵ on maturity (conditions apply)	Based on salary contribution (no fixed max for employee share)
National Savings Certificate (NSC)	~7%–7.7%	5 years	Section 80C (interest taxable but reinvested qualifies)	Min ₹1,000, no upper limit
Fixed Deposits (FDs) – Banks/NBFCs	~6%–8%	7 days to 10 years	Tax-saving FD (5-year lock-in) eligible under 80C	Min ₹1,000 (varies), no strict upper limit
Unit Linked Insurance Plans (ULIPs)	Market-linked (varies based on fund performance)	5 years	Section 80C + tax-free⁵maturity under Section 10(10D) (conditions apply)	Min ~₹1,500/month or ₹15,000/year, no strict upper cap
National Pension System (NPS)	~8%–12% (market-linked)	Till retirement (partial withdrawals allowed)	Section 80C + additional ₹50,000 under 80CCD(1B)	Min ₹500 per contribution, no maximum limit
Senior Citizens Savings Scheme (SCSS)	~8%–8.2%	5 years	Section 80C benefits available	Min ₹1,000, Max ₹30 lakh
Post Office Monthly Income Scheme (POMIS)	~7%–7.5%	5 years	No direct tax benefit	Min ₹1,000, Max ₹9 lakh (single), ₹15 lakh (joint)

20 Best Savings Plan in India 2026

The best saving schemes in India offers secure and structured ways to build wealth while ensuring life protection. These schemes cater to diverse financial needs, from retirement planning and children’s education to tax⁵ benefits and guaranteed returns. Below is a detailed overview of the 20 top savings plans available in 2026.

1. Atal Pension Yojana (APY)
- A social security scheme supported by the Government of India, offering a monthly pension in retirement years.
- Provides fixed payouts between ₹1,000 and ₹5,000 per month based on the subscriber's age and contribution.
- Benefits are backed by the Central Government, ensuring stability for retirees.
- Open to citizens aged 18 to 40.
- Tax exemption is available under Section 80C of the Income Tax Act.
2. Employee Provident Fund (EPF)
- A government-supported savings scheme for employees in the organised sector to build retirement capital.
- Both employee and employer contribute a fixed portion of salary to the fund every month.
- Managed by the Employees' Provident Fund Organisation (EPFO) with annual interest rate reviews.
- The interest rate for FY 2025-26 is 8.25% p.a., compounded annually.
- Tax exemption under Section 80C with EEE (Exempt-Exempt-Exempt) status.
3. Endowment Plans
- These life insurance policies combine protection with a savings component for wealth building.
- Structured to help policyholders achieve future financial goals systematically.
- Family receives financial support in case of an unforeseen event during the policy term.
- No mandatory lock-in period, offering flexibility in financial planning.
- Tax⁵ benefits are available under Sections 80C and 10(10D) of the Income Tax Act.
4. Kisan Vikas Patra (KVP)
- A small savings scheme offered by India Post, originally for farmers but now open to all citizens.
- Offers a fixed interest rate of 7.5% per annum for a term of 2 years and 6 months.
- Backed by the Government of India, ensuring returns as specified on the KVP certificate.
- An account can be opened at any post office with a minimum deposit of ₹1,000.
- A KVP certificate can be pledged as collateral to obtain a loan.
5. Money Back Plans
- Savings-oriented life insurance with periodic payouts during the policy term.
- Designed for individuals preferring to receive funds at specific intervals for planned needs.
- Suitable for short-term or long-term expenses like purchasing a car or buying a home.
- A minimum lock-in period of 3 years is applicable for these plans.
- Tax⁵ benefits under Sections 80C and 10(10D) of the Income Tax Act.
6. Monthly Income Plans
- This is the type of monthly savings plan providing a steady income at regular intervals for additional earnings.
- Suitable for people wanting extra income to support regular expenses or retirement needs.
- Ideal for covering daily household costs with predetermined payouts.
- No mandatory lock-in period, offering withdrawal flexibility when needed.
- Tax benefits are available under Sections 80C and 10(10D) of the Income Tax Act.
7. Mutual Funds
- Pooled investment vehicles that collect capital from many investors to create a diversified portfolio.
- Invest in a mix of assets like shares, bonds, and other securities.
- Managed by professional fund managers to meet specific investment objectives.
- Suit different risk levels from safer debt funds to higher-risk equity funds.
- ELSS (Equity Linked Savings Scheme) funds qualify for Section 80C tax benefits.
8. Guaranteed Savings Plan
- Life insurance-cum-investment product offering assured returns along with life cover.
- Designed for individuals prioritising capital protection over market7-linked volatility.
- Premiums paid qualify under Section 80C for tax deduction up to ₹1.5 lakh.
- Maturity proceeds are tax-free under Section 10(10D) of the Income Tax Act.
- Riders like accidental death, disability, and premium waiver can be added for extra protection.
9. National Pension Scheme (NPS)
- Voluntary savings plans help individuals build retirement funds through market⁷-linked investments.
- Open to all Indian citizens with flexibility, low cost, and professional fund management.
- Contributions are invested in market-linked securities based on the investor's chosen plan and risk appetite.
- At retirement, one can withdraw part of the savings; the remainder is used to buy an annuity for a lifetime pension.
- Extra tax benefits of up to ₹50,000 on voluntary contributions under Section 80CCD(1B).
10. National Savings Certificate
- Fixed-income investment offered by India Post, backed by the Government of India.
- Provides fixed returns and interest rates are revised quarterly.
- Investments up to ₹1.5 lakh per year qualify for tax deduction under Section 80C.
- Lock-in period of 5 years with interest compounded annually but payable at maturity.
- Suitable for low-risk investors seeking stable, government-backed returns without market exposure.
11. Post Office Monthly Income Scheme (POMIS)
- Government-backed savings plan offering a fixed monthly income without market risks.
- Interest rate of 7.4% per annum payable monthly, effective from January 1, 2024.
- Maximum investment of ₹9 lakh for individual accounts and ₹15 lakh for joint accounts.
- Tenure of 5 years with the option to withdraw prematurely, subject to penalty charges.
- Managed by the Ministry of Finance, providing a safe monthly income ideal for retirees.
12. Post-Office Savings Scheme (POSS)
- Safe and reliable savings option for individuals with a low-risk appetite seeking security.
- Offers an easy and convenient account opening process, including the option to open in a minor's name.
- An interest rate of 4% provides stable returns on deposits without market fluctuations.
- No lock-in period, allowing complete flexibility for deposits and withdrawals as needed.
- Tax exemption is available under Section 80TTA for interest earned on a savings account.
13. Pradhan Mantri Jan Dhan Yojana
- Zero-balance savings account with interest on deposits, promoting financial inclusion for low-income individuals.
- Encourages regular saving habits among the individuals opening a bank account for the first time.
- Provides added benefits like accident insurance, life cover, and access to government subsidies.
- Helps account holders gradually build financial discipline and security over time.
- No direct tax benefits are available, but it serves as a gateway to the formal banking system.
14. Public Provident Fund (PPF)
- A government-backed long-term savings plan with a 15-year lock-in.
- It pays 7.1% p.a. (Q1 FY25) interest, compounded annually and tax-free.
- It can be beneficial to create a retirement corpus or to fund long-term goals securely.
- PPF accounts can be extended in increments of five years beyond their date of maturity.
- This facility can be a relatively risk-free proposition for risk-averse investors.
15. Recurring Deposits
- A savings option where investors deposit a fixed amount regularly, earning interest on the accumulated balance.
- Tenure ranges from six months to ten years, depending on the bank or financial institution.
- Interest rates vary with providers, generally ranging between 6% to 8% per annum.
- Helps in building savings gradually while earning steady, predictable returns over time.
- Interest earned is taxable as per the income slab; no Section 80C tax benefits are available.
16. Sukanya Samriddhi Yojana (SSY)
- Government-supported savings plan under the 'Beti Bachao Beti Padhao' initiative for girl child welfare.
- For parents to save for a girl child aged 10 years or below until she turns 18 or gets married.
- Interest rate of 8.2% per year, compounded annually and completely tax-free on maturity.
- Tax benefits are available on the amount invested, interest earned, and maturity proceeds (EEE status).
- Specifically designed to support expenses like higher education and the marriage of a girl child.
17. Unit-Linked Insurance Plans (ULIPs)
- Financial products providing both life insurance coverage and investment benefits in a single plan.
- Offer life cover while allowing investment in equity, debt, or hybrid funds based on risk appetite.
- Investors can switch between different fund options to match changing financial goals and market conditions.
- A minimum lock-in period of 5 years is applicable, promoting a long-term, disciplined investment approach.
- Tax benefits under Section 80C for premiums and Section 10(10D) for maturity proceeds.
18. Voluntary Provident Fund (VPF)
- A scheme where employees voluntarily contribute more than the mandatory 12% EPF contribution limit.
- Extra contributions earn the same interest rate as EPF, currently 8.25% p.a., decided by EPFO.
- The interest rate is reviewed and revised annually by the Employees' Provident Fund Organisation.
- Lock-in period continues until retirement age or authorised withdrawal as per EPF rules.
- Tax⁵ exemption is available under Section 80C; withdrawals after 5 years are tax-free (EEE status).
19. Senior Citizen Savings Scheme (SCSS)
- SCSS is a secure savings plan exclusively for Indian residents aged 60 years or above.
- Allows a one-time investment from ₹1,000 to a maximum of ₹30 lakh for an initial 5-year period.
- Offers a fixed interest rate of 8.2% per year, payable quarterly, among the highest government scheme rates.
- Accounts can be opened at authorised banks or post offices and are transferable between institutions.
- Tenure can be extended for an additional three years after maturity.
20. Annuity Plans
- A contract between an investor and an insurance company providing periodic payouts for a specified duration or lifetime.
- The investor pays a lump sum or regular premiums to receive monthly, quarterly, or annual income streams.
- Payouts continue for a pre-determined period or the entire lifetime, depending on the chosen annuity type.
- Contributions qualify for tax deductions under Sections 80C and 80CCC of the Income Tax Act.
- Ideal solution for retirement income planning with guaranteed pension benefits and financial security.

Importance of buying the best savings plan

Let’s understand the importance of buying the best monthly saving scheme:

Creates a financial safety net

A savings plan acts as a structured way to safeguard your hard-earned money, build steady wealth, and prepare for unexpected situations. Guaranteed savings plans, in particular, combine financial protection with assured returns, making them a dependable option for disciplined savers.

Prevents spending and protects capital

A savings plan encourages regular investing, which limits unnecessary spending and promotes financial management. Your capital stays protected while continuing to grow. Over time, this builds a stable financial base that supports everyday needs and future security.

Helps your funds grow

Depending on the type of plan, savings plans may offer assured or market-linked returns. Compared to traditional saving methods, they can provide stronger growth potential. This allows you to reach major financial milestones as soon as possible.

Adapts to changing life priorities

Financial needs change as responsibilities increase. The best saving plans offer flexibility to adjust contributions, benefits, or payout structures. This ensures your financial plan continues to support you through different stages of life.

Builds long-term saving discipline

Making regular contributions develops a habit of consistent saving. Over time, this discipline strengthens financial discipline, helps create an emergency fund, and supports long-term stability.

Protects your savings from inflation

Certain savings plans are designed to deliver returns that keep pace with inflation. This helps maintain your purchasing power and ensures rising costs do not reduce the value of your future savings.

Tata AIA savings plans

Tata AIA Life Insurance Fortune Guarantee Plus

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Tata AIA Life Insurance POS Smart Income Plus

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Tata AIA Fortune Guarantee Secure

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Tata AIA Life Insurance Smart Income Plus

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Tata AIA Life Insurance Fortune Guarantee

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Tata AIA Fortune Guarantee Supreme

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Tata AIA Life Guaranteed Return Insurance Plan

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Tata AIA Fortune Guarantee Supreme –Variants Explained

Key features of the best savings schemes

Here are some of the main features of the best saving schemes available in India:

Maturity benefit

Savings plans offer assured maturity benefits. These may further enhance financial security for your loved ones and provide a structured means to meet your family's future financial obligations.

Life cover

A life insurance cover is a fundamental component of a savings plan. This feature ensures financial protection for you and your family so that your accumulated savings are not impacted during unforeseen events.

Steady returns

Savings plans are preferred for their consistent and stable returns. Most plans are designed to be low risk, minimising concerns related to capital loss.

Flexible premium payment options

Savings plans offer flexible premium+ payment schedules, allowing you to pay monthly, quarterly, half-yearly, annually, or as a single premium, based on your convenience and financial planning.

Low barrier to entry

Depending on the selected plan and eligibility criteria, you can initiate a savings plan at any stage of life, aligning it with your financial objectives and requirements.

Multiple rider options

To enhance the protection offered by your savings plan, you may add one or more riders7 to your policy, ensuring comprehensive coverage for unforeseen events.

Benefits of having a savings plan

Savings plans offer numerous benefits; here is a list of them:

Financial protection

A savings plan can help you achieve your long-term financial objectives, such as purchasing a home or planning for retirement. Based on your selected plan, you may choose regular premium+ payments or a lump sum payout on maturity. These funds can be utilised to meet immediate financial obligations, thereby ensuring continued financial security.

Multiple tax saving options

Maximise your savings with tax¹ benefits under a savings plan. You may claim deductions under Section 80C and exemptions on maturity benefits under Section 10(10D) of the Income Tax Act, subject to prevailing tax regulations.

Life Insurance protection for family

A savings plan provides financial protection for your family by offering an adequate sum assured in your absence. Most Tata AIA savings plans allow you to select the sum assured at the time of purchase, ensuring a significant death benefit for your beneficiaries.

Wealth creation

Savings plans offer a disciplined and systematic approach to accumulating wealth for future goals such as retirement, education, or purchasing assets. With Tata AIA savings plans, you can build your reserve steadily by paying regular premiums throughout the policy term, thereby securing substantial returns.

Added bonuses

As and when declared by the company, your savings plan will accumulate added bonuses (as applicable under the plan opted) every year, which will add to the corpus you will receive on maturity.

Retirement savings

Many savings plans also serve as effective retirement planning tools. For instance, Tata AIA’s monthly income plan can provide a steady income stream during retirement, helping you and your family meet post-retirement financial needs comfortably.

How to choose a savings investment plan?

Choosing the right savings plan helps you meet both short-term and long-term financial goals. Start by understanding your income, expenses, existing liabilities, and family needs before selecting a plan.

Key Factors	Details
Assess Plan Features and Benefits	Check what the plan offers, including life cover, maturity benefits, and flexibility. Ensure it aligns with your financial goals.
Use a Savings and Income Calculator	Estimate returns and maturity value using a calculator. This helps you plan better and set realistic expectations.
Check for Emergency Withdrawal Options	Liquidity is important in case of unexpected needs. Choose plans that allow partial withdrawals after a lock-in period and review any charges involved.
Explore Rider Options for Enhanced Coverage	Look for additional riders like critical illness or accidental cover. These provide extra financial protection beyond the base plan.
Evaluate Risk Tolerance and Return Potential	Select a plan based on your risk appetite. Low-risk plans offer stable returns, while market-linked plans may offer higher growth.
Consider Tax Benefits	Check for tax savings under Section 80C and tax-efficient returns under Section 10(10D), as per applicable laws.

Who should invest in a saving plan?

A flexible savings insurance plan can suit the needs of different individuals at various life stages. Below are examples of who may benefit and how:

Young individuals – start early, save more

Choosing the best savings plan for young investors allows them to build a larger saving amount over time.
Starting early often means lower life insurance premiums.
Helps achieve long-term life goals without financial stress.

Newlyweds – secure your future together

A savings plan may help plan for children’s higher education, retirement, or buying a home.
Encourage disciplined saving habits as you begin your life together.

Parents – safeguard your child’s dreams

A child education savings plan ensures funds for your child’s aspirations.
Provides financial support at important stages of life like school, college, or higher studies.

Entrepreneurs – fund growth and stability

A low-risk investment for entrepreneurs may help meet personal and business goals.
May be used for business expansion or to maintain stability during challenging times.

Common mistakes to avoid in a savings plan

While investing in a savings plan, avoid the following:

Investing before creating an emergency fund

While investing in a savings plan is important, doing so without first setting aside funds for emergencies can cause financial difficulty. Unexpected expenses may require you to withdraw from your savings or discontinue contributions. It is important to maintain funds equivalent to three to six months of regular expenses before committing large amounts to long-term savings.

Investing only in one investment option

Money savings plans may offer different investment options such as equity, debt, or gold. Choosing only one option can increase the risk to your savings, as market changes may affect that particular segment. Diversifying investments across different options helps reduce risk and supports steady growth over time.

Why should you buy a savings plan?

There are practical reasons people opt for savings plans. Here’s why it often makes sense:

Financial protection for family

It ensures dependents have financial support if the unexpected happens.

Disciplined long-term savings

Regular premium payments create forced savings. In practice, this reduces the temptation to withdraw or reallocate funds impulsively.

Goal-oriented planning

The maturity amount can be structured around milestones such as education, marriage, or retirement.

Predictable or stable returns

Many plans offer guaranteed or relatively stable returns, which can bring balance to an otherwise market-heavy portfolio.

Tax efficiency

Premiums may qualify for deductions under prevailing tax laws. Maturity proceeds may also receive favourable tax treatment, subject to conditions.

Flexible payout options

Depending on the plan, you can choose lump sum payouts, staggered income, or hybrid structures.

Options for different risk preferences

Whether someone prefers low-risk guaranteed benefits or is comfortable with market-linked growth, there are suitable variants available.

How to buy a savings plan online?

Buying a savings plan online has become fairly straightforward. In fact, many buyers now prefer the online route because it allows time to compare features easily.

Assess your financial goal: Start with clarity. Are you saving for retirement, a child’s education, wealth creation, or future income? The objective determines the structure.
Choose the appropriate plan type: Select between traditional guaranteed plans, participating plans, or market-linked options based on your comfort with risk.
Use the premium calculator: Enter age, policy term, and desired coverage to get an estimate. In practice, this step helps set realistic expectations.
Compare features carefully: Review payout options, bonus structures, riders, flexibility, and surrender conditions.
Complete the application form: Provide accurate personal and nominee details. Accuracy at this stage avoids complications later.
Submit required documents: Identity proof, address proof, income documents, and medical disclosures may be needed.
Make the premium payment: Payment can typically be made via net banking, UPI, debit, or credit card.
Policy issuance: Once underwriting is complete, the policy document is issued digitally.

Overall, the online process is transparent and allows buyers to review the illustration thoroughly before proceeding.

Factors impacting savings plan premium

Savings plan premiums are calculated based on measurable underwriting parameters. Here are the primary factors:

Age of the policyholder

Younger individuals typically pay lower premiums, as mortality risk is lower.

Policy term

A longer term may spread the premium over more years, though the total contribution increases over time.

Sum assured

Higher life cover directly increases the premium.

Type of plan chosen

Guaranteed plans, participating plans, and market-linked plans each follow different pricing models.

Premium payment term

A shorter payment window increases annual outgo.

Add-On riders

Riders such as critical illness or accidental benefit enhance coverage and marginally increase premium.

Medical history and lifestyle

Smoking habits, health conditions, and occupation can influence underwriting decisions.

Payment frequency

Annual payments are often more cost-effective compared to monthly instalments.

How long should you stay invested in savings plans?

There are practical reasons people opt for savings plans. Here’s why it often makes sense:

The ideal investment duration depends on the type of plan and your financial goal. In simple terms, savings plans work best when you stay invested for the period they are designed for. For example, long-term options like PPF or NPS are structured to build wealth gradually over 10–15 years or more. Many times, investors exit early and end up losing out on compounding benefits, which is where the real value lies.
On the other hand, shorter-term options such as fixed deposits or post office schemes can be useful for goals within 3–5 years. In practice, aligning your investment horizon with your goal—like buying a house, planning retirement, or building an emergency fund—makes the plan more effective. Moreover, staying invested through market cycles, especially in market-linked products like ULIPs or NPS, can help reduce volatility and improve overall returns. Basically, patience and consistency often matter more than trying to time the market.

How to compare different savings plans?

To get the best savings scheme that matches your goals, fulfils your financial needs, and also provides sufficient protection to your family, you should compare savings plans on the basis of the parameters below:

Life insurer's reputation

The life insurance provider's reputation and claim settlement ratio are very important. These factors reflect the provider’s ability to settle claims efficiently and declare bonus additions. Tata AIA Life Insurance has declared exemplary bonuses and dividends benefiting its customers.

Size of life cover

While a savings plan is primarily meant for growing your savings, the life cover is equally crucial. Ensure that the life insurance coverage (sum assured) offered by your savings plan is enough to safeguard your family's needs in your absence.

Premiums

Your savings plan must be affordable while still offering you adequate life insurance coverage. This helps you continue making payments without interruption, preventing a policy lapse due to lack of funds. You may use Tata AIA's savings calculator to ensure you are offered a competitive rate.

Documents required to purchase a savings plan

Buying a term insurance plan is a responsible step, but many people make simple mistakes that affect its value. Avoiding these mistakes may help you choose the best term insurance plan in India for your needs.

Completed policy application form

The policy application form contains your personal, contact, and financial details. It also includes information about the type of savings plan you wish to purchase. Submitting a correctly filled form helps the insurer assess your application and begin policy processing without delays.

Driving licence

A driving licence serves as an officially accepted identity and address proof. It helps verify your personal details and confirms your residential information during the verification process.

Proof of income

Documents such as six months’ bank statements, recent income tax returns (ITR), or the last three months’ salary slips are used to assess your income level. These documents help the insurer determine your ability to pay premiums and select an appropriate coverage amount.

Aadhaar card

The Aadhaar card is widely accepted as proof of identity and address. It also helps complete mandatory verification requirements as per regulatory guidelines.

Passport

A valid passport can be submitted as proof of identity, age, and address. It is commonly accepted by insurers and simplifies the verification process.

Voter ID issued in India

The voter ID card acts as an official identity document and can also serve as address proof. It supports the verification of your personal information while purchasing a savings plan.

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Why choose Tata AIA for savings plans?

Choosing the right savings plan is essential for financial security. Tata AIA offers reliable solutions tailored to your needs.

Get Premium Back upto 200%

We offer option to customize returns of premium till 200% to align with your savings objectives while ensuring that your family remains protected under a life cover.

Immediate Income Option

Under this option, you will receive a Guaranteed Immediate Income (GII) in advance from 2nd year, subject to payment of all due premiums. The plan offers Death Benefit during the entire policy term.

Guaranteed IRR of 6%

Enjoy steady growth and a guaranteed 6%11 IRR (Internal Rate of Return) which will help you in securing in future, applicable basis certain income term and age criteria

Comprehensive protection

Our savings plans not only support your savings and life insurance goals but also offer the ability to enhance coverage through optional riders⁷, providing comprehensive financial protection.

Seamless claim settlement

With an individual death claim settlement ratio of 99.13% for FY 2023-24, we are committed to timely claim settlements to ensure that you and your family do not encounter any financial difficulties during critical times.

Tax benefits, interest rates returns & lock-in periods of different types of saving plans

The table below highlights the tax¹ benefits, interest rates return and lock-in periods of different types of saving plans:

No	Savings Plan	Interest Rate / Returns	Lock-in Period	Tax¹ Benefits
1	Atal Pension Yojana (APY)	N/A	Until age 60	Tax¹ exemption under Section 80C
2	Employee Provident Fund (EPF)	8.25%	Until retirement or resignation	Tax¹ exemption under Section 80C
3	Endowment Plans	Varies	No lock-in	Tax¹ benefits under Sections 80C and 10(10D)
4	Kisan Vikas Patra (KVP)	7.50%	30 months	Tax¹ benefits under Section 80C
5	Money Back Plans	Predetermined payout	Minimum 3 years	Section 80C and 10(10D) benefits
6	Monthly Income Plans	Predetermined payout	No lock-in	Tax¹ benefits under Sections 80C and 10(10D)
7	Mutual Funds	10Market-linked	Varies	ELSS funds qualify under Section 80C
8	National Pension Scheme (NPS)	Market-linked	Minimum 10 years	Tax¹ exemption under Section 80C
9	National Savings Certificate (NSC)	7.7% p.a.	5 years	Tax exemption under Section 80C
10	Post Office Monthly Income Scheme (POMIS)	7.4% approx.	5 years	Interest taxable
11	Post-Office Savings Scheme (POSS)	4.00% p.a.	No lock-in	Tax¹ exemption under Section 80TTA
12	Pradhan Mantri Jan Dhan Yojana	0% (Basic savings)	No lock-in	No direct 1tax benefits
13	Public Provident Fund (PPF)	7.10%	15 years	Tax¹ exemption under Section 80C
14	Recurring Deposits	Vares with provider	6 months to 10 years	Interest taxable; No benefit under 80C
15	Senior Citizen Savings Scheme (SCSS)	8.20%	5 years	TDS applicable; interest taxable
16	Sukanya Samriddhi Yojana (SSY)	8.20%	Until girl turns 18	Tax¹ exemption under Section 80C
17	Unit-Linked Insurance Plans (ULIPs)	10Market-linked	Minimum 5 years	Tax¹exemption under Sections 80C and 10(10D)
18	Voluntary Provident Fund (VPF)	8.25% (same as EPF)	Until retirement or withdrawal	Tax¹ exemption under Section 80C
19	Guaranteed Savings Plan	Predetermined payout	No lock-in	Fixed tenure, usually 10–20 years depending on plan
20	Annuity Plans	Can be fixed or market-linked	Premiums deductible¹under Section 80C and 80CCC	Premiums deductible¹ under Section 80C

Why purchase savings plan online?

Here are some key reasons to buy a savings plan online.

Independent Purchase: When buying Tata AIA's savings plan online, you can carry out your research, refer to our plan brochures, compare different plans and make an informed decision.
Hassle-Free Experience: Our website offers features that help streamline your buying process, ensuring that you get your Tata AIA savings plan with just a few clicks.
Go Paperless and Green: We ensure minimal paperwork during the purchase and claims process. Moreover, any paperwork can be done using soft copies that can be uploaded onto our website, thereby keeping the environment clean.
Online Discounts: Buying savings plans online from Tata AIA can make you eligible for premium discount. We also offer special discounts for women under some of our plans. There is a 2% upfront discount on first year premium for women customers on purchasing the Tata AIA Fortune Guarantee Supreme.

Factors to consider before investing in a savings plan

Careful planning is key to selecting the most suitable savings plan for your unique needs and circumstances.

Goal setting

Start your financial planning with a clear objective in mind. What do you intend to save for? Are you saving for your child's further education? Will the savings be used for a future business venture, or creating a retirement plan for your family and yourself?

Risk assessment

Evaluate your risk appetite, which varies with age, income, life stage, and financial goals. Decide whether to opt for a high-risk investment or a low-risk savings plan offering assured returns on maturity.

Flexibility

Select a plan that aligns with your goals. Savings plans are flexible, so if you need the funds after 10 years of savings, choose a policy that will provide returns around that time. Also, look for a plan that offers multiple payout options (e.g., monthly income, lump sum, etc.) to ensure you may meet your financial obligations on time.e.

Plan features

Consider the features of different savings plans, each designed to address specific needs. Choose a plan whose benefits align with your savings objectives and financial strategy. Ensure the premium+ amount is affordable to avoid disruption in your savings.

Documents required to purchase a savings plan

If you are planning to buy a savings plan, please make sure you have the following documents ready:

Completed policy application form

Driving License

Proof of income (such as 6 months’ bank statements / recent ITR / last 3 months’ salary slips)

Aadhaar Card

Passport

Voter ID issued in India

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1.What is the 50-30-20 savings rule?

The 50-30-20 rule is a budgeting guideline that allocates 50% of income to essential expenses, 30% to discretionary spending, and 20% to savings or debt repayment.

2.What is the golden rule for saving funds?

Always prioritise saving by regularly allocating funds to a savings account or plan. Aim to save at least 20% of your income and spend only the returns earned from these investments.

3.What is the savings plan formula?

This usually refers to the 50-30-20 rule, where 20% of your monthly income multiplied by 12 is how much funds you may expect to save in a given year.

4.Why do you need a savings plan?

A savings plan may help you protect your family against future uncertainties with life cover and also help you build your wealth over the long term in a systematic and disciplined manner.

5.How to buy a savings plan online?

To buy a savings plan online, you can go to the Tata AIA Life Insurance website and visit the ‘Buy Online’ section to choose from our savings plans available online.

6.What is a grace period in a savings plan?

Our savings plans have a grace period of 15 days for the monthly premium payment mode, while the other modes have a grace period of 30 days from the due date of the succeeding premium payments.

1.What are the Riders⁷ available with savings plans?

Tata AIA offers various riders⁷ for savings plans on our website. Refer to policy brochures for details. Riders⁷ enhance base coverage for an additional premium, providing increased financial protection.

2.How do I choose the coverage of a savings plan?

Begin by assessing your family’s future financial commitments, goals, and emergency needs like medical expenses. Use this estimate to determine coverage, or for precision, utilise our savings calculator.

1.What premium payment modes may I choose under Tata AIA savings plans?

Under our savings plan, you may pay your premiums on a monthly/quarterly/half-yearly/annual basis. You may also opt for a single premium+ payment under your Tata AIA savings plan.

2.What are the minimum and maximum premiums I can pay for these plans?

Premium+ amounts vary by plan and chosen sum assured. Premiums are divided into two parts: one provides life cover, while the other contributes to the savings component of your plan.

3.Do savings plans also offer a return of premium benefit?

Yes, some savings plans offer a return of premium² benefit at the end of the income period. With Tata AIA Fortune Guarantee Plus savings plan your entire premiums paid are returned² at the end of the income period.

4.What are the payout options in savings plans?

You may choose savings plans that give payouts on a monthly or annual basis and as a regular income, monthly income, or as a lump sum.

1.When can I claim my savings plan's benefits?

Savings plans offer two claim options: a death benefit for your family if you pass away during the term and a maturity benefit if you survive. Some plans also provide loan facility after a specified period.

2.How do I file an online claim on my savings plan?

You may file a claim on your savings plan by getting in touch with us in the following ways:

Email us at: customercare@tataaia.com
Call our helpline number – 1860-266-9966 (local charges apply)
Walk into any of the Tata AIA Life Insurance Company branch offices
Write directly to us at:

The Claims Department,

Tata AIA Life Insurance Company Limited

B- Wing, 9th Floor,

I-Think Techno Campus,

Behind TCS, Pokhran Road No.2,

Close to Eastern Express Highway,

Thane (West) 400 607.

IRDA Regn. No. 110

3.What are the documents needed to file a claim?

To file a claim, submit the completed claim form and policy certificate. Additional documents, like a death certificate for death claims, may be required. Click here for the full document list.

4.How much should I start saving at 25?

At age 25, it is ideal to save at least 20% to 30% of your monthly income. Starting early gives you more time to build wealth and meet future goals.

5.Can savings plans help to save tax?

Yes, savings plans like PPF, ELSS, ULIPs, and NPS offer ¹tax benefits under Section 80C and 10(10D), which may help you reduce your taxable income while growing your savings.

6.What is the importance of starting to save early?

Starting to save early gives your funds more time to grow through compounding. It helps you achieve financial stability, meet life goals, and reduce the stress of last-minute planning.

7.Which plan is best for saving?

The best saving plan depends on your goals, financial strength and risk appetite. For long-term and ¹tax-saving benefits, PPF, ULIPs, and NPS can be suitable options. Choose one based on returns, flexibility, and risk tolerance.

Voice of Happy Customers

Mahesh Gaikar

Tata AIA

Value Income Plan 12 Nov 2022

I was worried about the cost, but Value Income Plan offered me great coverage at an affordable rate. Aniket Chavan helped me find a plan that fits my budget.

Swapnil Vartak

Tata AIA

Fortune Guarantee Plus

Fortune Guarantee Plus is a very good plan, which helps with retirement needs and tax savings.

Dimple Aadin

Tata AIA

Savings Plan 12 Dec 2024

Tax benefits and finding an affordable plan were key to my decision.

Anita Diwadkar

Tata AIA

Invest Assure Gold 12 Dec 2024

I was looking for a long-term solution, especially something to build a retirement corpus.

Pearlann Serrao

Tata AIA

MahaLife Gold

I liked the long term bonus and cover option. Happy with the bonus year on year.

Aniket Gaikwad

Tata AIA

Fortune Guarantee Plus 21 Mar 2024

I was looking for a long-term solution, Fortune Guarantee plus provided exactly what I needed.

Bharati Kataria

Tata AIA

Smart Income Plus (SIP) 30 Dec 2019

With SIP, I know my family will get immediate help when they need it most. The advisor explained how the instant payout works.

Aditi Gajare

Tata AIA

Guaranteed Monthly Income Plan 29 Dec 2019

GMIP offers instant payout, giving peace of mind. Advisor ensured my family would be taken care of quickly.

Tata AIA Fortune Guarantee Supreme - Individual, Non-Linked, Non-participating, Life Insurance Savings Plan (UIN110N163V12)
The complete name of Tata AIA Fortune Guarantee Plus is Tata AIA Life Insurance Fortune Guarantee Plus (UIN: 110N158V14) - Non-Linked, Non-Participating, Individual Life Insurance Savings Plan.
The complete name of Tata AIA Value Income Plan is Tata AIA Life Insurance Value Income Plan (UIN: 110N153V03) - Individual, Non-Linked, Participating Life Insurance Savings Plan
The complete name of Tata AIA Smart Income Plus is Tata AIA Life Insurance Smart Income Plus (UIN:110N126V09) - A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan
Tata AIA Shubh Maha Life - Individual, Non-Linked, Participating, Life Insurance Savings Plan (UIN: 110N208V02) and (2) Tata AIA Health Buddy - Non-Participating, Non-Linked, Individual Health Product (UIN: 110N183V01). These products are also available for sale individually without the combination offered/ suggested.
²This will be basis chosen policy option, certain income term and age criteria, 6% IRR availability.
³Guaranteed Income shall be total of Guaranteed annual Income plus Income Booster payable in a year. Guaranteed Income as per the chosen Income Frequency shall commence after maturity till the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
⁴Return of Premium shall be the sum of Guaranteed Maturity Benefit plus Milestone Benefit and shall be payable at the end of the Income Period, irrespective of survival of the life insured(s) during the Income Period.
⁵Tax benefits of up to ₹46,800 u/s 80C is calculated at highest tax slab rate of 31.20% (including cess excluding surcharge) on life insurance premium paid of ₹1,50,000 as per old tax regime. Tax benefits under the policy are subject to conditions laid under Section 80C, 80D,10(10D), 115BAC and other applicable provisions of the Income Tax Act,1961.The Tax Free income is subject to conditions specified under section 10(10D) and other applicable provisions of the Income Tax Act,1961. Tax laws are subject to amendments made thereto from time to time. Please consult your tax advisor for details, before acting on above.
No Goods and Service Tax shall be applicable on Individual life insurance products as per prevailing laws
⁶Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/branch.
⁷Market-linked returns are subject to market risks and terms & conditions of the product. The assumed rate of returns or illustrated amount may not be guaranteed and depends on market fluctuations.
⁸If Premium offset is opted, then the Survival Benefits during the PPT will be adjusted against the premium due to be paid. If the policy becomes Reduced Paid-Up before the first survival benefit payout (first income payout of premium offset), the Premium Offset feature will be discontinued, and future income and death benefit shall be paid as per terms and condition
⁹Guaranteed returns in this plan depends on Age at Entry of life assured, Premium payment term, policy term, premium amount and plan option chosen
This product is underwritten by Tata AIA Life Insurance Company Ltd. The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance
Insurance cover is available under this product.
For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and conditions of this plan are specified in the Policy Contract.
Risk cover commences along with policy commencement for all lives, including minor lives.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
All Premiums and interest payable under the policy are exclusive of the taxes, rider premiums, underwriting extra premiums, loading for modal premiums, if any which will be entirely borne/ paid by the Policyholder, in addition to the payment of such Premium or interest. Tata AIA Life shall have the right to claim, deduct, adjust, and recover the amount of any applicable tax or imposition, levied by any statutory or administrative body, from the benefits payable under the Policy.
L&C/Advt/2026/Jun/3890