Best Small Savings Schemes in India in 2024: SCSS, PPF, NSC, others’ interest rates, tax benefits

Interest rate: 7.70% for the January-March quarter
Minimum investment: 1,000
Maximum investment: No limit
Features: No TDS
Tax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.

Getty Images

Interest rate: 7.40% for the January-March quarter
Minimum investment: Rs 1,000
Maximum investment: Rs 9 lakh for single account, Rs 15 lakh for joint accounts
Features: 5-year tenure, monthly returns
Tax benefits: Nil

Getty Images

Interest rate: 8.20% for the January-March quarter
Minimum investment: Rs 1,000
Maximum investment: Rs 30 lakh
Features: 5-year tenure, minimum age of 60 years
Tax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.

Getty Images

Interest rate: 8.20% for the Janaury-March quarter
Minimum investment: Rs 250
Maximum investment: Rs 1.5 lakh per annum
Features: One account per girl child
Tax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.

Getty Images

Interest rate: 7.50% for the January-March quarter
Minimum investment: 1,000
Maximum investment: No limit
Features: Can be encashed after 2.5 years
Tax benefits: Nil

Getty Images

Interest rate: 6.9%-7.50% for the January-March quarter (depending on the tenure)
Minimum investment: Rs 1,000
Maximum investment: No limit
Features: Available in 1, 2, 3, 5 year tenures
Tax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act only for 5-year time deposits.

Getty Images