Latest interest rates of PPF, Senior Citizen Saving Scheme, NSC, other post office schemes for July – September 2024 quarter

A Post Office Savings Account can be opened by anybody, and it offers 4% yearly interest. If minimum balance for non-cheque accounts is Rs. 50 and Rs. 500 for accounts with cheque facilities

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The Indian government regulates the National Saving Recurring Deposit Account (RD), a savings account that is intended primarily for small investors to help them save money for a variety of uses.

Interest rate: The government offers 6.7% per year recurring deposit.

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There are four different maturity periods for the accounts under this scheme: one, two, three, and five years. Investments made in five-year accounts qualify for tax deductions under Section 80C of the Income Tax Act, 1961.

1yr.A/c- 6.9%

2yr.A/c- 7.0%

3yr.A/c- 7.1%

5yr.A/c– 7.5 %

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Deposits are eligible for deduction under Section 80C of the Income Tax Act. The minimum deposit is Rs. 500 every fiscal year, with a maximum deposit of Rs. 1.50 lakh.

Interest rate: The government offers 7.1% per year (compounded annually) on PPF.

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The minimum deposit shall be Rs. 1000 and in multiple of 1000, subject to maximum limit up to Rs. 30 lakh in all SCSS accounts opened by an individual.

Interest rate: The government offers 8.2% interest on the Senior Citizen Savings Scheme.

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A maximum of Rs 9 lakh can be deposited in a single account and 15 lakh in Joint account. Deposits in all MIS accounts opened by an individual shall not exceed Rs 9 lakh.

Interest rate: The government offers 7.4% on the Post Office Monthly Income scheme.

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Deposits qualify for deduction under section 80C of Income Tax Act. The deposit shall mature on completion of five years from the date of the deposit.

Interest rate: The government offers 7.7% compounded annually but payable at maturity on National Savings Certificate.

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The government offers 7.5 % Kisan Vikas Patra which will be compounded annually. Amount invested doubles in 115 months (9 years & 7 months).
Interest rate: The government offers 7.5 % Kisan Vikas Patra which will be compounded annually.

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Interest will be compounded quarterly and credited in account and paid at the time of closure of account. This can be opened by a woman for herself or by the guardian on behalf of a minor girl.

Interest rate: The government offers 7.5% interest per annum on Mahila Samman Savings Certificate.

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The minimum deposit to be made is Rs 250and maximum Rs 1,50,000 in a financial year. A SSY account can only be opened in the name of a girl child before she attains the age of 10 years.

Interest rate: The government offers 8.2% per annum calculated on yearly basis, yearly compounded.

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