Investment In These Four Savings Schemes Fetches At Least 8% Interest

India Post currently offers a total of nine small savings schemes. For the current quarter ending March 31, the government provides interest at the rate of 4-8.7 per cent on investment or deposit held in these nine small savings schemes, according to India Post, which operates a network of more than 1.5 lakh post offices across the country. Out of these small savings schemes, four - namely Senior Citizen Savings Scheme (SCSS), 15-Year Public Provident Fund (PPF), National Savings Certificate and Sukanya Samriddhi - offer interest rates of at least 8 per cent, according to the India Post website - indiapost.gov.in.

Here's a comparison of these small savings schemes offered by the post office: 

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Investment in all four of these small savings schemes qualifies for income tax benefit under Section 80C of the Income Tax Act.

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Retirement fund body EPFO or Employees' Provident Fund Organisation last month announced a hike in the interest rate applicable to employees' provident fund (EPF) to 8.65 per cent for the current financial year (2018-19). That marked a shift from a five-year low of 8.55 per cent for the preivous financial year (2017-18).