Selecting Ideal Indian Post Office Saving Scheme through Multi-Criteria Decision Support System

Investing money is a good habit as it ensures financial security to investors at present and in the future as well. Depositing money merely in any saving a/c may not fulfill the financial objectives of a depositor. It is always a wise decision to invest money in any of the saving schemes in banks or Indian Post Offices. The money earned from regular investments usually provides financial security and income. But it is always not too easy to identify in which saving scheme a person should invest. In this paper, five Indian post office saving schemes are considered with their associated attributes and then the TOPSIS method is applied to identify the best saving schemes among the experimented schemes. TOPSIS method compares the set of alternatives with their associated and identifying weights for each and every criterion. Through this approach, the ideal choice among the experimented alternatives can be determined.