Small Savings Schemes Offer Up To 6.9% Return. Check Interest Rates Here

Government of India offers various small savings schemes to investors which come with benefit to save income tax. Currently, the government is offering eight different small savings schemes to investors. People can invest their money in government's small savings schemes via selected banks and Post Offices across the country. Currently, government offers maximum of 6.9 per cent annual interest on Sukanya Samriddhi Scheme. Government had reduced the interest on Small Savings Schemes with effect from April 1, 2021. Interest of Sukanya Samriddhi Scheme was reduced to 6.9 per cent from 7.6 per cent. Likewise, interest rate on Public Provident Fund (PPF) was reduced to 6.4 per cent from 7.1 per cent..Here are latest interest rates offered by the government on various Small Savings Schemes:.table.gold { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.gold th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: center; } table.gold td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; text-align: center; } table.gold th:nth-child(1), table.gold td:nth-child(1) { text-align: left; } table.gold th:nth-child(1), table.gold td:nth-child(1) { text-align: left; } table.gold th:last-child, table.gold td:last-child { } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.gold { display: table; min-width: 280px; max-width: 100%; } table.gold th, table.gold td, table.gold th:nth-child(n+1), table.gold td:nth-child(n+1) { display: table-cell; line-height: normal; } table.gold th, table.gold td, table.gold th:nth-child(n+1), table.gold td:nth-child(n+1) { display: table-cell; line-height: normal; } table.gold th:nth-child(4), table.gold td:nth-child(4) { display: none; } } table.gold { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.gold { display: table; min-width: 280px; max-width: 100%; } . Small Savings Scheme Interest Rate Savings Deposit 3.50% 1 Year Time Deposit 4.40% 2 Year Time Deposit 5% 3 Year Time Deposit 5.10% 5 Year Time Deposit 5.80% 5 Year Recurring Deposit 5.30% Senior Citizen Savings Scheme 6.50% Monthly Income Account 5.70% National Savings Certificate 5.90% Public Provident Fund 6.40% Kisan Vikas Patra 6.20% Sukanya Samriddhi Scheme 6.90% .Source: Finance Ministry.Using these products, an investor can claim a deduction up to Rs 1.5 lakh in a financial year from taxable income under Section 80C of the Income Tax Act. Income tax benefits are available on Time Deposit (TD), Senior Citizen Savings Scheme (SCSS

Small Savings Schemes Offer Up To 6.9% Return. Check Interest Rates Here

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