Know Interest Rates of These Nine Investment Schemes of Post Office Like SSY, SCSS and PPF, Get Guaranteed Returns

New Delhi, Business Desk. The post office offers a variety of deposit schemes from its customers. They are also known as small savings schemes. These schemes are known for safe, better and guaranteed returns. The special thing is that these schemes are supported by the central government. Some of these schemes also get income tax exemption under Section 80C of the Indian Income Tax Act. The interest rate on these deposit schemes is determined by the government every three months. Let us know about the current interest rates on these deposit schemes.

1. National Savings Certificate

The scheme has a lock-in period of five years. Income tax exemption under Section 80C is also available in this scheme. There is no minimum investment amount of Rs 100 and maximum investment amount in this scheme. The scheme is currently offering 6.80 percent interest rate.

2. Post Office Time Deposit (POTD)

The post office also offers time deposits from customers just like the bank FD. It occurs for one, two, three or five years. There is no minimum investment amount of Rs 200 and maximum investment amount in this scheme. In this scheme, interest is getting at the rate of 5.50 to 6.70 percent.

3. Senior Citizen Savings Scheme (SCSS)

Senior citizens of 60 years or more can invest in this scheme to get regular interest income. The minimum investment amount in this scheme is Rs 1,000 and the maximum investment amount is Rs 15 lakh. It comes with a lock-in period of five years. At present, the scheme is paying interest of 7.40 per cent to its customers.

4. Sukanya Samridhi Yojana (SSY)

In this scheme, investment amount, interest earned and maturity amount are exempt from income tax in all three. A parent or legal guardian can open an account under this scheme for a maximum of two daughters. The minimum investment amount in this scheme is Rs 1,000 and the maximum investment amount is Rs 1.50 lakh. At present the scheme is getting interest at the rate of 7.60 percent.

5. Post Office Monthly Income Scheme (POMIS)

The scheme only offers monthly interest payments from investors. The minimum investment limit in this scheme is Rs 1500 and maximum investment limit is Rs 4.50 lakh for single account and Rs 9 lakh for joint account. The scheme has a maturity period of five years. Currently, the interest rate in this scheme is 6.60 percent.

6. Kisan Vikas Patra (KVP)

You can double your investment amount by investing in this investment option. In this scheme, the rate of interest and doubling of investment is fixed by the government on a quarterly basis. There is no limit of minimum investment amount of Rs 1,000 and maximum investment amount in this scheme. The interest rate of this scheme is currently 6.90 percent.

7. Public Provident Fund (PPF)

In PPF also, investment amount, earned interest amount and maturity amount are the three income tax rebates. The scheme has a lock-in period of 15 years, but can withdraw partially after seven years. The minimum investment amount in this scheme is Rs 500 and the maximum investment amount is Rs 1.50 lakh annually. The interest rate of this scheme is currently 7.10 percent.

8. Post Office RD (RD)

This scheme is planned for small fixed amount investment at regular intervals. Investors can open a five-year RD account at the post office. There is no minimum investment amount of Rs 10 and maximum investment amount in this scheme. The interest rate in this scheme is currently 5.80.

9. Post Office Savings Account

You can also open a savings account in the post office. This is similar to a savings account opened in a bank. At this time, interest is getting 4 percent on this account.

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