New Delhi:

The Post Office Savings Account offers interest at the rate of 4 percent. Investment in this account can be started with a minimum of Rs 500 and there is no maximum investment limit. The senior citizens are not required to pay tax on interest up to Rs 50,000 deposit on this account, thus making it an attractive option for them.

Post Office Saving Schemes are considered a safe investment option by scores of people across the country as these are controlled by the Centre. These schemes provide guaranteed returns and are free from market risks. By investing in them, depositors aim to create a corpus as per their needs and also save on taxes. Recently, the government increased the deposit limit in these financial instruments, making these schemes more beneficial and attractive.

Recurring Deposit (RD): 6.7​ % per annum (quarterly compounded)

Monthly Income Scheme (MIS): 7​.4​ % per annum payable monthly

Senior Citizens Savings Scheme (SCSS): 8.2% per annum, payable from the date of deposit to 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 1st April, 1st July, 1st October and 1st January.

Kisan Vikas Patra (KVP): 7.5 % compounded annually

National Savings Certificate (NSC): 7.7 % compounded annually but payable at maturity

Sukanya Samriddhi Yojana (SSY): Rate of interest 8.2​​​% Per Annum(with effect from 01-01-2024 ),calculated on yearly basis ,Yearly compounded.

Public Provident Fund (PPF): 7.1 % per annum (compoun

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