In the last two quarters, government has increased rates of the Sukanya Samriddhi Account Scheme, Senior Citizen Savings Scheme, National Savings Certificate, Kisan Vikas Patra, Monthly Income Savings Scheme and all post office time deposits
Tax-saving mutual funds or ELSS (Equity-Linked Saving Schemes) get you Section 80C income-tax deduction benefits. But if you invest in ELSS every year, it may not make sense to have multiple schemes.
Although there are many such financial investments available, not all would suit your risk profile and requirements. Investing in the wrong instrument just to save on taxes is like boarding a wrong train