Know Small Saving Scheme Interest Rate 2020 : The government reviews the interest rates on small savings schemes such as PPF on a quarterly basis at present.
9 government-run small financial savings schemes - together with the 15-Years Public Provident Fund (PPF) and the Senior Citizen Financial savings Scheme (SCSS) - provide rates of interest to the tune of 4-8.6 per cent for the quarter ending March 31.
Presently, the federal government opinions the rates of interest relevant to those small financial savings schemes each quarter. One must shell out a sum of Rs 250-Rs 1,000 to take a position any one in every of these schemes, in keeping with India Publish's web site.
Latest Small Saving Schemes Interest Rate 2020
| Small Savings Scheme | Interest Rate | Minimum Amount Required For Opening Account |
|---|---|---|
| Post Office Savings Account | 4% | Rs 500 |
| 5-Year Post Office Recurring Deposit (RD) Account | 7.20% | Rs 100 per month |
| Post Office Time Deposit (TD) Account - One Year | 6.90% | Rs 1,000 |
| Post Office Time Deposit Account (TD) - Two Years | 6.90% | Rs 1,000 |
| Post Office Time Deposit Account (TD) - Three Years | 6.90% | Rs 1,000 |
| Post Office Time Deposit Account (TD) - Five Years | 7.70% | Rs 1,000 |
| Post Office Monthly Income Scheme Account (MIS) | 7.60% | Rs 1,000 |
| Senior Citizen Savings Scheme (SCSS) | 8.60% | Rs 1,000 |
| 15-Year Public Provident Fund Account (PPF) | 7.90% | Rs 500 |
| National Savings Certificates (NSC) | 7.90% | Rs 1,000 |
| Kisan Vikas Patra (KVP) | 7.60% | Rs 1,000 |
| Sukanya Samriddhi Account | 8.40% | Rs 250 |
| (Source: indiapost.gov.in) |
The Division of Posts supplies small financial savings schemes in designated submit workplace branches. India Publish - which comes beneath the ambit of Ministry of Communications - has a community of greater than 1.5 lakh submit workplace branches throughout the nation.
Among the many 9 small financial savings schemes, Senior Citizen Financial savings Scheme (SCSS) , Sukanya Samriddhi and Public Provident Fund (PPF) provide the very best rates of interest of 8.6 per cent, 8.four per cent and seven.9 per cent for the fourth quarter of present monetary years.Know Small Savings Scheme Interest Rates 2020.
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