07/12/2020
Post Office saving schemes: PPF, Sukanya Samriddhi Yojana, SCSS latest rates here
1) Post Office Savings Account: 4% interest rate annually
2) Post Office Time Deposit Account : Post office term deposits of 1-3 years gives an interest rate of 5.5%.The five-year term deposit gives 6.7%.
3) 5-Year Post Office RD:
With small monthly investments, these RD accounts offer lucrative interest rates. This recurring deposit scheme offered by post offices will get new investors 5.8%.
4) Senior Citizen Savings Scheme (SCSS)
Investors who are 60 years old can deposit up to ₹15 lakh over their lifetime in a Senior Citizen Savings Scheme to earn regular interest income. This has a lock-in period of 5 years. The senior citizens scheme gives 7.4%.
5) Post Office Monthly Income Scheme
You can invest a maximum of ₹4.5 Lakh individually and ₹9 Lakh jointly in post office MIS scheme. MIS allows investors to generate a steady monthly income, and gives an interest rate of 6.6%.
6) National Savings Certificate (NSC)
National Savings Certificate has a lock-in period of 5 years. This will fetch 6.8% interest
7) Public Provident Fund (PPF)
The popular tax, long-term savings scheme, which matures in 15 years. Nonetheless, investors can avail partial withdrawal after 5 years. A minimum deposit of ₹500 per year is required to keep the account active. This will fetch 7.1%.
8) Kisan Vikas Patra (KVP)
The Kisan Vikas Patra (KVP) will now mature or double in value in 124 months giving an interest rate of 6.9%.
9) Sukanya Samriddhi Yojana (SSY)
The popular girl child savings scheme Sukanya Samriddhi Yojana account will earn an interest rate of 7.6%. A maximum of 2 accounts is allowed for a household for two daughters individually. Once the child reaches 21 years of age, she is eligible to claim the maturity amount.