Tuesday , July 23 2024

Government Savings Scheme: Want to invest in Government Savings Scheme, check high interest rates immediately

Saving Scheme: There are many investment options available in the country but most of the people are looking for such options which provide high returns and also keep the money safe. In such a situation, the options include Bank FD, Post Office FD, PPF, National Saving Certificate and Senior Citizen Saving Scheme etc. Talking about interest rates, the annual interest on Senior Citizen Saving Scheme is 8.2 percent. Maximum interest available on bank FD is 7.75 percent. Interest is available on PPF at the rate of 7.1 percent. Know here what is best for your investment.

bank FD

Among big banks, HDFC Bank is offering the highest interest on FD up to 7.75 percent. SBI is giving interest up to 7.50 percent annually on FD.

small savings scheme

Small Savings Scheme motivates citizens to save regularly. Savings Plans, Social Security Plans and Monthly Income Plans. Savings schemes include 1 to 3 year deposit schemes, 5 year RD. Savings certificates like National Savings Certificate (NSC) and Kisan Vikas Patra (KVP) are also included. Social security schemes include Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme. The government is offering interest ranging from 4 percent to 8.2 percent on small savings schemes.

interest on small savings scheme

  • Savings account – 4 percent
  • 1 year post office FD – 6.9 percent
  • 2 year post office FD – 7.0 percent
  • 3 year post office FD – 7 percent
  • 5 year post office FD: 7.5 percent
  • 5 year RD: 6.5 percent
  • National Savings Certificate (NSC): 7.7 percent
  • Kisan Vikas Patra: 7.5 percent (mature in 115 months)
  • Public Provident Fund: 7.1 percent
  • Sukanya Samriddhi Account (Sukanya Samriddhi Yojana): 8.2 percent
  • Senior Citizens Savings Scheme: 8.2 percent
  • Monthly Income Plan: 7.4 percent