Small Savings Schemes
If you are an investor who wants to grow your money while keeping it safe, then Post Office Small Savings Schemes are a great option for you. These schemes not only give assured returns, but also give 7% to 8% interest on your investment. Let us know about these schemes in detail…
Public Provident Fund (PPF)
PPF is one of the most popular schemes, it offers an interest of 7.1% per annum, which increases according to the compound. You can invest from ₹ 500 to ₹ 1.50 lakh in this scheme. Deposits can be made in lump sum or instalments. This account matures after 15 years.
Sukanya Samriddhi Account
Sukanya Samriddhi Account offers 8.2% interest annually from January 1, 2024. You can invest ₹250 to ₹1.50 lakh in a financial year. There is no limit on how many times a deposit can be made. The account matures after 21 years of opening and is an ideal scheme for daughter’s provident fund.
Kisan Vikas Patra (KVP)
Kisan Vikas Patra offers compound interest of 7.5% annually. The amount invested doubles in approximately 9 years and 7 months. The minimum investment in this is ₹1,000 and there is no maximum limit.
Mahila Samman Savings Certificate
This scheme offers 7.5% annual interest, which is compounded every three months. You can invest from ₹1,000 to ₹2,00,000. Your balance is ready for return after two years of account opening.
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National Savings Certificate (NSC)
NSC offers an interest of 7.7% per annum, which is paid on maturity. There is no maximum limit on investment in this. The tenure of deposit is five years.
National Savings Time Deposit (TD)
The interest available in this scheme ranges from 6.9% to 7.5%. You can invest for 1 year, 2 years, 3 years or 5 years as per your convenience. There is no maximum investment limit in this.
Senior Citizens Savings Scheme (SCSS)
This scheme is for senior citizens. In this, interest of 8.2% is available annually. You can invest from ₹1,000 to ₹30 lakh. The account matures after 5 years and if extended, returns are available after every next block of three years.