INSUBCONTINENT EXCLUSIVE:
Interest of Sukanya Samriddhi Scheme was reduced to 6.9% from 7.6%.Government of India offers various small savings schemes to investors
which come with benefit to save income tax
Currently, the government is offering eight different small savings schemes to investors
People can invest their money in government's small savings schemes via selected banks and Post Offices across the country
Currently, government offers maximum of 6.9 per cent annual interest on Sukanya Samriddhi Scheme
Government had reduced the interest on Small Savings Schemes with effect from April 1, 2021
Interest of Sukanya Samriddhi Scheme was reduced to 6.9 per cent from 7.6 per cent
Likewise, interest rate on Public Provident Fund (PPF) was reduced to 6.4 per cent from 7.1 per cent.Small Savings SchemeInterest
RateSavings Deposit3.50%1 Year Time Deposit4.40%2 Year Time Deposit5%3 Year Time Deposit5.10%5 Year Time Deposit5.80%5 Year Recurring
Deposit5.30%Senior Citizen Savings Scheme6.50%Monthly Income Account5.70%National Savings Certificate5.90%Public Provident Fund6.40%Kisan
Vikas Patra6.20%Sukanya Samriddhi Scheme6.90%Source: Finance MinistryUsing these products, an investor can claim a deduction up to Rs 1.5
lakh in a financial year from taxable income under Section 80C of the Income Tax Act
Income tax benefits are available on Time Deposit (TD), Senior Citizen Savings Scheme (SCSS
