A Savings Scheme is a structured plan that encourages individuals to save money over time. These schemes often offer interest on the deposited amount, helping savings grow. They can be provided by banks, credit unions, or government programs, and may have specific terms regarding how and when money can be accessed. Many savings schemes are designed to meet different financial goals, such as saving for retirement, education, or emergencies. Popular examples include fixed deposits, savings accounts, and government bonds. By participating in a savings scheme, individuals can build financial security and achieve their long-term objectives.