New Delhi, Nov. 8 -- Are you looking to invest Rs.10 lakh in a government-backed savings scheme? Then you can consider several popular savings schemes such as the Public Provident Fund (PPF) and National Savings Certificate (NSC). Both these schemes can offer aspiring investors assured returns, peace of mind, and income tax benefits.

Still, it should not be overlooked that these schemes cater to different objectives. They have distinct investment limits, maturity periods, interest payouts and withdrawal flexibility. For example, the PPF scheme does not permit an investor to invest Rs.10 lakh in a lump sum.

Furthermore, the key difference between the NSC and PPF is that the PPF is designed for long-term wealth creation. Whereas the NSC s...