Saving Scheme: There are many investment options in the country but most of the people look for such options in which the money remains safe along with high returns. In such a situation, the options include Bank FD, Post Office FD, PPF, National Saving Certificate and Senior Citizen Saving Scheme etc.
Saving Scheme: There are many investment options in the country but most of the people look for such options in which the money remains safe along with high returns. In such a situation, the options include Bank FD, Post Office FD, PPF, National Saving Certificate and Senior Citizen Saving Scheme etc. If we talk about interest rates, the annual interest on Senior Citizen Saving Scheme is 8.2 percent. Maximum 7.75 percent is available on bank FD. Interest on PPF is available at the rate of 7.1 percent. Know here what is best for your investment.
Bank FD
Among big banks, HDFC Bank is offering maximum interest of up to 7.75 percent on FD. SBI is giving interest up to 7.50 percent annually on FD.
Small Saving Scheme
Small Savings Scheme motivates citizens to save regularly. Saving Schemes, Social Security Schemes and Monthly Income Schemes. Saving schemes include 1 to 3 year deposit scheme, 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 Citizen Saving Scheme. The government is offering interest ranging from 4 percent to 8.2 percent on small savings schemes.
Interest on small savings scheme
- Saving 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 Samridhi Account (Sukanya Samridhi Yojana): 8.2 percent
- Senior Citizen Saving Scheme: 8.2 percent
- Monthly Income Scheme: 7.4 percent
