New Delhi, Aug. 24 -- There are multiple post office schemes that ensure guaranteed returns as they are backed by the government, but when it comes to savings the returns differ significantly, depending on interest rate, time period and taxes.

Let's explore three stages of investment journey - from tax deduction on contribution and taxation on interest during growth to taxation on withdrawal at maturity.

1. Public Provident Fund (PPF): PPF, alternatively known as a tax-efficient saving, currently offers 7.1% annual interest and comes with 15-year lock in period. The annual lower investment limit for this scheme, considered the gold standard for tax-free long-term savings, is Rs.500 while the upper limit is Rs.1.5 lakh.

Investors can av...