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Government-Run Small Savings Schemes Offer These Returns In March Quarter

Government-Run Small Savings Schemes Offer 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) account and the Senior Citizen Savings Scheme (SCSS) - offer interest rates to the tune of 4-8.6 per cent currently quarter ending March 31. Interest rates on these instrument products are reviewed by the government every quarter. One needs to invest Rs 250-Rs 1,000 to park funds in any one of the small savings schemes, according to India Post's website. Of these, the Time Deposit small savings scheme comes in four maturity period options, ranging from one to five years.

Here are the interest rates applicable to small savings schemes in the fourth quarter of current financial year:

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.