Posted on 27-12-2020 by Admin
Small savings schemes are run by the Government of India. The government also keeps changing the interest rate of these small savings schemes. Investments in these small savings schemes earn interest ranging from 4% to 7.6%. Today, here we are talking about the 9 small savings schemes of the government in which you can get guaranteed returns by investing.
These 9 schemes include Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS), Public Provident Fund (PPF), Sukanya Samriddhi Yojana, National Savings Certificate (NSC) and Post Office Time Deposit for 5 years. If you are also planning to invest in these schemes, then first know how much interest is being received on them.
Post Office Savings Account
In this scheme you can open a savings account in the post office. This account is similar to a bank account. India Post also provides the facility to transfer money online from these accounts. Currently, 4% interest is earned annually by investing in this scheme.
Post Office Time Deposit Account
In this scheme you can invest for 1, 2, 3 and 5 years. In this, 5.5 percent interest will be given on investments ranging from 1 to 3 years and 6.7 percent for five years.
Post Office RD for 5 years
It offers attractive interest rates in small savings plans. This is a recurring deposit scheme. That means investing in it every month. The post office scheme is getting 5.8 percent interest.
Senior Citizen Savings Scheme (SCSS)
People who are more than 60 years of age can get regular income by investing up to Rs 15 lakh in their life time. Senior citizen husband and wife together can invest up to 30 lakh rupees in this scheme. It has a lock-in of 5 years, that is, it cannot withdraw money for 5 years. It is currently getting an interest rate of 7.4 percent.
Post office monthly scheme
If you want to invest in a scheme that has the option of getting monthly money, then you can invest in it. A person can invest a maximum of Rs 4.5 lakh and a husband and wife jointly can invest Rs 9 lakh. 6.6% interest is available in this scheme, which will keep coming in your accounts monthly.
National Savings Certificate (NSC)
The five-year National Savings Certificate (NSC) of the post office yields 6.8% returns in the current quarter. There is also a tax rebate under Section 80C of Income Tax on investments made in it. There is a lockin period of 5 years on the investment made in it, ie before 5 years you cannot withdraw money from it. However, an emergency loan can be taken from the bank by pledging the NSC.
Public Provident Fund (PPF)
PPF is the most popular tax savings scheme. The investment made in it is matured in 15 years. PPF investments have a lock-in period of 5 years. It can invest up to a minimum of 500 rupees. Right now it is getting 7.1 percent return.
Kisan Vikas Patra (KVP)
Account can be opened with minimum 1000 rupees in Kisan Vikas Patra. It is currently getting 6.9 percent annual returns. It is promised in the Kisan Vikas Patra that this AAP investment will double in 10 years 4 months i.e. 124 months.
Sukanya Samriddhi Yojana
This scheme is only for daughters and is very popular. At present, it is getting 7.6 percent interest. In this scheme, a person can open an account for his two daughters. Daughters 21 years old can withdraw money from this account. In this scheme, the amount will double in 9 years and 4 months.