Posts Tagged with “what are post office saving schemes”
Indian Post Office Saving Schemes
Post office saving schemes in India offer a secure and reliable way to grow your savings while enjoying attractive interest rates and tax benefits. These schemes, managed by India Post, cater to various financial goals, whether you’re looking for short-term savings, regular income, or long-term investment options. From the versatile Post Office Savings Account to the high-yield Sukanya Samriddhi Yojana, there’s a scheme for everyone, including senior citizens and parents planning for their child’s future. Explore the diverse range of post office saving schemes to find the perfect fit for your financial needs and secure your future with confidence.
| Scheme | Minimum Deposit | Interest Rate | Tenure/Lock-in Period | Additional Details |
|---|---|---|---|---|
| Post Office Savings Account (SB) | ₹500 | 4% per annum | None | |
| 5-Year Post Office Recurring Deposit (RD) | ₹100 per month | 5.8% per annum (compounded quarterly) | 5 years | |
| Post Office Time Deposit (TD) | ₹1,000 | 6.9% to 7.7% per annum | 1, 2, 3, and 5 years | |
| Post Office Monthly Income Scheme (MIS) | ₹1,000 | 7.4% per annum (payable monthly) | 5 years | |
| Senior Citizen Savings Scheme (SCSS) | ₹1,000 | 8.2% per annum (payable quarterly) | 5 years | Eligibility: 60 years and above |
| Public Provident Fund (PPF) | ₹500 per year | 7.1% per annum (compounded annually) | 15 years | |
| National Savings Certificate (NSC) | ₹1,000 | 7.7% per annum (compounded annually) | 5 years | |
| Kisan Vikas Patra (KVP) | ₹1,000 | 7.5% per annum (compounded annually) | 115 months | |
| Sukanya Samriddhi Yojana (SSY) | ₹250 per year | 8% per annum (compounded annually) | Until the girl child turns 21 | Eligibility: Girl child below 10 years of age |
Website : India Post – Post Office Saving Schemes