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Check Latest Post Office Small Savings Scheme Interest Rates Here

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Check Latest Post Office Small Savings Scheme Interest Rates Here

India Post, via its huge community of publish workplaces throughout the nation, presents a complete host of presidency’s small financial savings scheme like Senior Citizen Savings Scheme, Monthly Income Account, Public Provident Fund (PPF) Scheme, Kisan Vikas Patra and Sukanya Samriddhi Yojana (SSY) Account Scheme amongst different saving schemes. The authorities retains altering the rate of interest on small financial savings schemes every so often and the identical charges are carried out by publish workplaces and designated banks for the government-run small financial savings schemes. (Also learn: All You Need To Know About Sukanya Samriddhi Yojana)

Here are the newest rates of interest on varied authorities run small financial savings scheme:

InstrumentsRate of curiosityCompounding Frequency
Post Office Savings Account​​4%Annually
1 Year Time Deposit5.5% (Annual Interest R. 561 on Rs. 10000 deposit)Quarterly
2 Year Time Deposit​​5.5% (Annual Interest R. 561 on Rs. 10000 deposit)Quarterly
3 Year Time Deposit​​5.5% (Annual Interest Rs. 561 on Rs. 10000 deposit)Quarterly
5 Year Time Deposit6.7% (Annual Interest R. 687 on Rs. 10000 deposit)Quarterly
Senior Citizen Savings Scheme​​7.4% (Quarterly curiosity Rs. 185 on Rs. 10000 deposit)Quarterly and Paid
Monthly Income Account​​6.6% (Monthly int. Rs. 55 on Rs. 10000 deposit)Monthly and paid
Public Provident Fund Scheme​​7.10%Annually
Kisan Vikas Patra​​7.60%Annually
Sukanya Samriddhi Account Scheme​​7.60%Annually

Source: www.indiapost.gov.in

Investments made below a number of the authorities’s small financial savings scheme are absolutely exempted from tax below part 80C of the Income Tax Act.

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