INSUBCONTINENT EXCLUSIVE:
Fixed deposit, recurring deposit and 15-year PPF are some of the small savings schemesInvestment or deposit in any of the small savings
post offices across the country, offers nine options under its small savings scheme portfolio
Senior Citizen Savings Scheme, National Savings Certificate and Kisan Vikas Patra (KVP)
Of these, the highest interest rate of 8.7 per cent per annum is applicable to the Senior Citizen Savings Scheme, according to India Post's
website - indiapost.gov.in.Small savings schemeInterest rateMinimum amount required for opening accountMaximum investment allowedSavings
account4%Rs 20Five-year recurring deposit account7.30%Rs 10 per monthNo limitOne-year time deposit (fixed deposit) account7%Rs 200No
limitTwo-year time deposit (fixed deposit) account7%Rs 200No limitThree-year time deposit (fixed deposit) account7%Rs 200No limitFive-year
time deposit (fixed deposit) account7.80%Rs 200Monthly income scheme7.30%Rs 1,500Rs 4.5 lakhSenior citizen savings scheme (SCSS)8.70%Rs
1,000Rs 15 lakh15-year public provident fund8%Rs 500Rs 1.5 lakh per financial yearNational savings certificate (NSC)8%Rs 100No limitKisan
Vikas Patra (KVP)7.70%Rs 1,000No limitSukanya Samriddhi8.50%Rs 1,000Rs 1.5 lakh per financial year(Source: indiapost.gov.in)Interest rates
on the nine small savings schemes (including four types of time deposit or fixed deposit) are currently revised every quarter
Certificates (NSC) qualifies for income tax benefit under Section 80C of the Income Tax Act.Get the latest election news, live updates and
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