Small Savings Scheme Interest Rates: Nine government-run small savings schemes - including the 15-Year Public Provident Fund (PPF) and the Senior Citizen Savings Scheme (SCSS) - offer interest rates to the tune of 4-8.6 per cent for the quarter ending March 31. Currently, the government reviews the interest rates applicable to these small savings schemes every quarter. One needs to shell out a sum of Rs 250-Rs 1,000 to invest any one of these schemes, according to India Post's website.
Here are the latest interest rates applicable to small savings schemes:
|Small Savings Scheme||Interest Rate||Minimum Amount Required For Opening Account|
|Post Office Savings Account||4%||Rs 500|
|5-Year Post Office Recurring Deposit (RD) Account||7.20%||Rs 100 per month|
|Post Office Time Deposit (TD) Account - One Year||6.90%||Rs 1,000|
|Post Office Time Deposit Account (TD) - Two Years||6.90%||Rs 1,000|
|Post Office Time Deposit Account (TD) - Three Years||6.90%||Rs 1,000|
|Post Office Time Deposit Account (TD) - Five Years||7.70%||Rs 1,000|
|Post Office Monthly Income Scheme Account (MIS)||7.60%||Rs 1,000|
|Senior Citizen Savings Scheme (SCSS)||8.60%||Rs 1,000|
|15-Year Public Provident Fund Account (PPF)||7.90%||Rs 500|
|National Savings Certificates (NSC)||7.90%||Rs 1,000|
|Kisan Vikas Patra (KVP)||7.60%||Rs 1,000|
|Sukanya Samriddhi Account||8.40%||Rs 250|
The Department of Posts provides small savings schemes in designated post office branches. India Post - which comes under the ambit of Ministry of Communications - has a network of more than 1.5 lakh post office branches across the country. Among the nine small savings schemes, SCSS, Sukanya Samriddhi and PPF offer the highest interest rates of 8.6 per cent, 8.4 per cent and 7.9 per cent for the fourth quarter of current financial year.