1. Post Office Savings Account (SB)
Interest Rate: 4% per annum
Minimum Balance: ₹500
Tax Implications: Interest is fully taxable; however, no TDS is deducted.
2. National Savings Recurring Deposit Account (RD)
Interest Rate: 6.7% per annum
Tenure: 5 years
Minimum Deposit: ₹100 per month
Premature Withdrawal: Allowed after 1 year with reduced interest.
3. National Savings Time Deposit Account (TD)
Interest Rates:
1-Year TD: 6.9% per annum
2-Year TD: 7.0% per annum
3-Year TD: 7.1% per annum
5-Year TD: 7.5% per annum
Minimum Deposit: ₹1,000
Tax Benefits: 5-Year TD qualifies for deduction under Section 80C.
4. National Savings Monthly Income Account (MIS)
Interest Rate: 7.4% per annum, payable monthly
Minimum Deposit: ₹1,000
Maximum Deposit:
Single Account: ₹9 lakh
Joint Account: ₹15 lakh
Maturity Period: 5 years
5. Senior Citizens Savings Scheme Account (SCSS)
Interest Rate: 8.2% per annum
Tenure: 5 years (extendable by 3 years)
Minimum Deposit: ₹1,000
Maximum Deposit: ₹30 lakh
Eligibility: Individuals aged 60 years and above; certain relaxations for retirees aged 55-60.
Tax Benefits: Deposits qualify for deduction under Section 80C; interest is taxable.
6. Public Provident Fund Account (PPF)
Interest Rate: 7.1% per annum, compounded annually
Tenure: 15 years (extendable in blocks of 5 years)
Minimum Deposit: ₹500 per financial year
Maximum Deposit: ₹1.5 lakh per financial year
Tax Benefits: Deposits qualify for deduction under Section 80C; interest earned is tax-free.
7. Sukanya Samriddhi Account (SSA)
Interest Rate: 8.2% per annum, compounded annually
Eligibility: Girl child below 10 years
Minimum Deposit: ₹250 per financial year
Maximum Deposit: ₹1.5 lakh per financial year
Tenure: 21 years from the date of opening or until marriage after the girl turns 18
Tax Benefits: Deposits qualify for deduction under Section 80C; interest earned and maturity amount are tax-free.
8. National Savings Certificates (VIII Issue) (NSC)
Interest Rate: 7.7% per annum, compounded annually
Tenure: 5 years
Minimum Deposit: ₹1,000
Maximum Deposit: No upper limit
Tax Benefits: Deposits qualify for deduction under Section 80C; interest earned is taxable but not subject to TDS.
9. Kisan Vikas Patra (KVP)
Interest Rate: 7.5% per annum, compounded annually
Tenure: Investment doubles in 115 months
Minimum Deposit: ₹1,000
Maximum Deposit: No upper limit
Tax Implications: Interest earned is taxable; no tax deduction at source.
10. Mahila Samman Savings Certificate
Interest Rate: 7.5% per annum
Tenure: 2 years
Maximum Deposit: ₹2 lakh
Eligibility: Available for women investors
Tax Implications: Interest earned is taxable
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