These small savings schemes offer annual interest upto 8.2 percent; check the latest rates

If you are looking to invest in small savings instruments , it is vital to know that different financial instruments offer varied interest rates. These instruments are meant for investors who are looking for safe saving options. These financial instruments give assured returns and also enable income tax exemption up to ₹ 1.

5 lakh under section 80C of Income Tax (I-T) Act, 1961. I. Post Office Savings Account(SB)​​​​ : One can open an account alone or jointly with someone.



This account can be opened by depositing a minimum of ₹ 500 while there is no maximum limit. These accounts offer an interest of 4 percent per annum. II .

National Savings Recurring Deposit Account (RD)​​: This account can be opened with a monthly deposit is ₹ 100, and above minimum in multiple of ₹ 10. Interest rate on recurring deposit account is 6.7 percent.

Small Saving Schemes & interest rates they offer: 6.9 7.0 7.

1 7.5 III. National Savings Monthly Income ​Account (MIS): This account can be opened with minimum of ₹ 1000 and in multiple of ₹ 1,000.

One can deposit a maximum of ₹ 9 lakh in a single account and 15 lakh in a joint account. This account gives an interest of 7.4 percent per annum.

IV Senior Citizens Savings Scheme Account (SCSS): This account has a minimum deposit of ₹ 1,000 and in multiple of 1000, subject to maximum limit up to ₹ 30 lakh in all SCSS accounts opened by an individual. This account gives an annual interest of 8.2 percent per annum.

V. Public Provident Fund Account (PPF): ​Minimum deposit in PPF is ₹ 500 in a financial year and maximum deposit is ₹ 1.50 lakh in a FY.

The interest on this account is 7.1 percent. 7 VI.

Sukanya Samriddhi Account(SSA)​: The minimum deposit in a financial year is ₹ 250 and maximum deposit can be made up to ₹ 1.50 lakh (in multiple of ₹ 50) in a FY in lumpsum or in multiple installments. The account offers 8.

2 percent per annum. VII National Savings Certificates (VIIIth Issue) (NSC): Minimum amount is ₹ 1,000 and in multiple of Rs. 100 while there is no maximum limit.

the account gives an interest of 7.7 percent per annum. VIII.

Kisan Vikas Patra(KVP): The minimum amount to deposit is ₹ 1000 and in multiples of ₹ 100. There is no maximum limit. The interest rate on KVP is 7.

5 percent. IX. Mahila Samman Savings Certificate: Minimum of ₹ 1,000 and in multiple of ₹ one hundred while the maximum is ₹ 2 lakh .

It offers an interest of 7.5 percent per annum..