π Public Provident Fund (PPF)
β 7.1% p.a.
π
15 Years
π° βΉ500 β βΉ1.5L/yr
β
Sec 80C
PPF is one of the most popular long-term savings schemes in India, offering tax-free returns under the EEE (Exempt-Exempt-Exempt) category.
π Scheme Details
Interest Rate7.1% p.a.
CompoundingAnnually
Min/YearβΉ500
Max/YearβΉ1,50,000
Lock-in15 Years
Partial WithdrawalFrom 7th year
Loan Facility3rd to 6th year
β Key Features
- βEEE β Deposit, Interest & Maturity all tax-free
- βDeduction up to βΉ1.5L u/s 80C
- βMonthly βΉ1,000Γ15yr = βΉ3,15,568
- βYearly βΉ10,000Γ15yr = βΉ2,71,214
- βExtendable by 5 years blocks after maturity
- βCannot be attached by court orders
- βOnly one account per person
Eligibility
- Any Indian citizen can open a PPF account
- Minor account allowed (below 18, operated by guardian)
- One account per person
- NRI not eligible
π± Sukanya Samriddhi Yojana (SSY)
β 8.2% p.a.
π
21 Years
π° βΉ250 β βΉ1.5L/yr
π§ Girl Child
A government-backed savings scheme for the girl child, offering the highest interest rate among small savings schemes.
π Scheme Details
Interest Rate8.2% p.a.
CompoundingAnnually
Min / Max per YearβΉ250 / βΉ1,50,000
Deposit Period15 Years from opening
Maturity21 Years from opening
EligibilityGirl child below age 10
β Key Features
- βHighest rate in all Post Office schemes β 8.2% p.a.
- βMonthly βΉ1,000 Γ 15 yrs β βΉ5,54,612 at maturity
- βTriple tax-free (EEE) β deposit, interest & maturity all exempt
- β80C deduction up to βΉ1.5 lakh per year
- β50% balance withdrawal allowed when girl turns 18 years for education purposes
- βDeposits only for 15 years; interest continues for 6 more years
- βMax 2 accounts per family β one per girl child only
- ββΉ250ββΉ1,50,000 per financial year; βΉ50 penalty for each year if the minimum deposit is missed.
Eligibility
- Girl child below 10 years of age at the time of opening
- Maximum 2 accounts per family (exceptions for twins/triplets)
- Guardian opens and operates the account
π National Savings Certificate (NSC)
β 7.7% p.a.
π
5 Years
π° Min βΉ1,000
β
Sec 80C
A safe, government-backed fixed-income investment with tax benefits under Section 80C.
π Scheme Details
Interest Rate7.7% p.a.
CompoundingAnnually (paid at maturity)
Min InvestmentβΉ1,000 (no max)
Tenure5 Years
Premature ClosureNot allowed (except death)
Tax Benefit80C on deposit + accrued interest
β Key Features
- βDeduction u/s 80C up to βΉ1.5 lakh
- βAccrued interest also qualifies for 80C
- βCan be used as collateral for bank loans
- βNo TDS on maturity
πΎ Kisan Vikas Patra (KVP)
β 7.5% p.a.
π
~115 Months
π° Min βΉ1,000
π° Doubles Money
A savings certificate that doubles your investment over its tenure β ideal for long-term goal planning.
π Scheme Details
Interest Rate7.5% p.a.
CompoundingAnnually
Maturity115 months (9yr 7mo)
Min DepositβΉ1,000 (no max)
Premature ClosureAfter 2Β½ years
Tax BenefitNone (interest taxable)
β Key Features
- ββΉ1,00,000 β βΉ2,00,000 in 9yr 7mo
- βNo maximum investment limit
- βTransferable between post offices
- βCan be pledged as loan collateral
- βKYC required above βΉ50,000
- βAvailable in single/joint account mode
πΈ Monthly Income Scheme (MIS)
β 7.4% p.a.
π
5 Years
π° Min βΉ1,000
π° Monthly Payout
A scheme that provides guaranteed monthly income β perfect for retirees and those seeking regular cash flow.
π Scheme Details
Interest Rate7.4% p.a.
PayoutMonthly
Min DepositβΉ1,000
Max (Single A/c)βΉ9,00,000
Max (Joint A/c)βΉ15,00,000
Tenure5 Years
Premature (1-3yr)2% deduction
Premature (3-5yr)1% deduction
β Key Features
- ββΉ1,00,000 β βΉ617/month
- βPrincipal returned in full at 5 years
- βInterest auto-credited to linked SB a/c
- βMultiple accounts within max limit
- ββΉ1,00,000 β βΉ1,37,000 including 5-year monthly income
- βAuto-Credit: MIS interest can be credited to a linked Post Office SB account and used to pay an RD instalment automatically through a standing instruction.
π
Recurring Deposit (RD)
β 6.7% p.a.
π
5 Years
π° Min βΉ100/mo
Build savings systematically with small monthly deposits and earn interest compounded quarterly.
π Scheme Details
Interest Rate6.7% p.a.
CompoundingQuarterly
Min DepositβΉ100/month
Standard Tenure5 Years (60 months)
ExtensionUp to 10 years total
Premature ClosureAfter 3 years
Loan FacilityUp to 50% after 1 yr
β Key Features
- ββΉ100Γ60mo = βΉ7,137
- βUp to 5+1 defaults allowed during the account term
- βExtendable up to 10 years with/without deposits
- βAdvance-paid RD accounts cannot be closed prematurely until the prepaid period ends
- βAdvance Payment Benefit: Get a βΉ10 rebate for 6β11 months or βΉ40 for 12 months per βΉ100 monthly deposit.
- βRD Due Date: Opened 1stβ15th: instalment can be paid up to the 15th of next month; opened 16thβmonth-end: can be paid up to the end of next month. Later payment counts as a default.
- ββΉ1,000 RD: 1β5 defaults cost βΉ10, βΉ30, βΉ60, βΉ100 and βΉ150. Clear all dues with the current instalment to continue the account.
- βRD Auto-Pay: Link a Post Office SB account to pay the RD instalment automatically on the 15th each month. Maintain sufficient balance to avoid default.
π Post Office Time Deposit (TD / FD)
β 6.9β7.5% p.a.
π
1β5 Years
π° Min βΉ1,000
β
5Y TD Sec 80C
Flexible fixed deposit options with tenures from 1 to 5 years. The 5-Year TD qualifies for Section 80C tax benefit.
π Scheme Details
1 Year Rate6.9% p.a.
2 Year Rate7.0% p.a.
3 Year Rate7.1% p.a.
5 Year Rate7.5% p.a.
CompoundingQuarterly (every 3 months)
Min DepositβΉ1,000 (no max)
5yr Tax BenefitSec 80C
β Key Features
- β5-Year TD eligible for Sec 80C deduction
- ββΉ1L Γ 5yr = βΉ1,38,570 β | Γ3yr = βΉ1,21,873 β
- βInterest compounded quarterly β grows faster
- β5-Year TD: Premature closure allowed only after 4 years
- β1 TD, 2 TD, 3 TD: Premature closure after 6 months
- βAuto-renewal option available
β Calculator matched: βΉ1,00,000Γ1yr=βΉ1,07,081 | Γ2yr=βΉ1,14,372 | Γ3yr=βΉ1,21,873 | Γ5yr=βΉ1,38,570
π΄ Senior Citizens Savings Scheme (SCSS)
β 8.2% p.a.
π
5 Years
π° Max βΉ30 Lakh
π° Quarterly Interest
A high-interest savings scheme exclusively for senior citizens, offering quarterly interest payouts.
π Scheme Details
Interest Rate8.2% p.a.
PayoutQuarterly (Apr/Jul/Oct/Jan)
Min DepositβΉ1,000
Max DepositβΉ30,00,000
Tenure5 Years (extendable 3yr)
Eligibility60+ (55+ for retirees)
Tax BenefitSec 80C on deposit
β Key Features
- ββΉ1,00,000 β βΉ2,050/quarter
- βCan be extended by 3 years after maturity
- βDefence retirees eligible from age 50
- ββΉ1,00,000 β βΉ1,41,000 including 5-year interest payouts
- βPremature closure allowed
- βTDS Alert: If SCSS interest exceeds βΉ1 lakh in a financial year, submit Form 121 to avoid TDSβonly if your estimated tax liability is nil.
π¦ Savings Bank Account (SB)
β 4.0% p.a.
π° Liquid
π³ Debit Card
A basic savings account with liquidity, ATM card access, and deposit insurance up to βΉ5 lakh.
π Scheme Details
Interest Rate4.0% p.a.
Interest TypeSimple Interest
Minimum BalanceβΉ500
Max BalanceNo limit
Interest Credit31st March yearly
80TTA ExemptionUp to βΉ10,000/yr
β Key Features
- βAvailable at all post offices in India
- βSB account can be linked with IPPB to operate online
- βPassbook + ATM/Debit card facility
- βCheque book and net banking facility also available
- βNo lock-in β withdraw anytime
- βJoint account allowed (up to 3)
- βNomination facility available
- βThe IFSC code for Post Office Savings Bank accounts is IPOS0000DOP (blue-coloured characters are zeros) for NEFT/RTGS transactions.
Note: Interest = P Γ 4% Γ years. Calculated on minimum balance between 10th and last day of each month.