New Delhi: People seeking to get risk-free returns do prefer ever-reliable Post Office Schemes. Among the Post Office schemes, National Small Savings Schemes are very popular. In these small savings schemes, people make moderate investment and get assured returns. The interest rates on small savings schemes are decided by the Union Ministry of Finance.
As on April 27, 2021, the Government of India has fixed interest rates applicable on small savings schemes. These schemes are Post Office Savings Account, 1 Year Time Deposit, 2 Year Time Deposit, 3 Year Time Deposit, 5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate, Public Provident Fund Scheme, Kisan Vikas Patra, and Sukanya Samriddhi Account Scheme.
Post Office Savings Account
People can invest in Post Office Savings Account and get an annual interest rate of 4 per cent.
1 Year Time Deposit
At one year time deposit scheme, there is 5.5 per cent of interest applicable on a quarterly basis. Investors get Rs 561 on Rs. 10,000 deposit, according to figures issued by Post Office.
3 Year Time Deposit
At three year time deposit scheme, there is 5.5 per cent of interest applicable on a quarterly basis. Investors get Rs 561 on Rs. 10,000 deposit, according to figures issued by Post Office.
5 Year Time Deposit
At five year time deposit scheme, there is 6.7 per cent of interest applicable on a quarterly basis. Investors get Rs 687 on Rs. 10,000 deposit, according to figures issued by Post Office.
5 Year Recurring Deposit Scheme
An interest rate of 5.8 per cent is applicable on 5 Year Recurring Deposit Scheme.
Senior Citizen Savings Scheme
As part of Senior Citizen Savings Scheme, an interest rate of 7.4 per cent is applicable. A quarterly interest of Rs 185 on Rs 10000 deposit is assured.
Monthly Income Account
In Monthly Income Account, an interest rate of 6.6 per cent is applicable. A monthly interest of Rs 55 is applicable on Rs 10,000 deposit, India Post stated.
National Savings Certificate
National Savings Certificate scheme has an annual interest rate of 6.8 per cent. It has a maturity value of Rs. 1389 for Rs.1000 deposit.
Public Provident Fund Scheme
Public Provident Fund Scheme provides an interest rate of 7.1 per cent annually.
Kisan Vikas Patra
Kisan Vikas Patra matures in 124 months. Kisan Vikas Patra has an interest rate of 6.9 per cent annually.
Sukanya Samriddhi Account Scheme
Sukanya Samriddhi Account Scheme has an interest rate on 7.6 per cent annually.
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