Your Small Savings Scheme Investment Fetches These Returns In March Quarter

Small Savings Scheme Interest Rates 2020: The government reviews the interest rates on small savings schemes such as PPF on a quarterly basis at present.

Your Small Savings Scheme Investment Fetches These Returns In March Quarter

Investment in any of the nine schemes requires a minimum amount of Rs 250-Rs 1,000

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 SchemeInterest RateMinimum Amount Required For Opening Account
Post Office Savings Account4%Rs 500
5-Year Post Office Recurring Deposit (RD) Account7.20%Rs 100 per month
Post Office Time Deposit (TD) Account - One Year6.90%Rs 1,000
Post Office Time Deposit Account (TD) - Two Years6.90%Rs 1,000
Post Office Time Deposit Account (TD) - Three Years6.90%Rs 1,000
Post Office Time Deposit Account (TD) - Five Years7.70%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 Account8.40%Rs 250
(Source: indiapost.gov.in)

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.

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