INSUBCONTINENT EXCLUSIVE:
Interest rates on the nine small savings schemes are currently revised every quarter.The government on Friday reduced interest rates of
small savings schemes by 0.1 per cent for the second quarter of the financial year 2019-20, starting from July 1, 2019 and ending on
will fetch a return to the tune of 7.2-8.6 per cent for the September quarter.India Post, which operates a network of more than 1.5 lakh
post offices across the country, offers nine options under its small savings scheme portfolio
These include fixed deposit or time deposit (available in four options of maturities), recurring deposit, Public Provident Fund (PPF),
required for opening accountMaximum investment allowedSavings account4%Rs 20Five-year recurring deposit account7.20%Rs 10 per monthNo
limitOne-year time deposit (fixed deposit) account6.9%Rs 200No limitTwo-year time deposit (fixed deposit) account6.9%Rs 200No
limitThree-year time deposit (fixed deposit) account6.9%Rs 200No limitFive-year time deposit (fixed deposit) account7.70%Rs 200Monthly
income scheme7.60%Rs 1,500Rs 4.5 lakhSenior citizen savings scheme (SCSS)8.60%Rs 1,000Rs 15 lakh15-year public provident fund7.9%Rs 500Rs
1.5 lakh per financial yearNational savings certificate (NSC)7.9%Rs 100No limitKisan Vikas Patra (KVP)7.60%Rs 1,000No limitSukanya
Samriddhi8.40%Rs 1,000Rs 1.5 lakh per financial yearInterest rates on the nine small savings schemes (including four types of time deposit
deposit), Senior Citizen Savings Scheme (SCSS), 15 year Public Provident Fund and National Savings Certificates (NSC) qualifies for income
tax benefit under Section 80C of the Income Tax Act.Get Breaking news, live coverage, and Latest News from India and around the world on
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