small savings scheme interest rate: Small savings schemes of the Central Government are operated for various individuals like girls, women, elderly, farmers. At present the highest interest rate being given is 8.2 percent.
New Delhi: Small savings schemes of the Central Government are operated for various individuals like girls, women, elderly, farmers. These savings schemes are also known as post office savings schemes, because accounts for them are opened in the post office. The highest interest rate in small savings schemes is 8.2%, which varies on a quarterly basis.
Central government is running small savings schemes for every age group, like Sukanya Samriddhi Yojana for girl child, Mahila Samman for women investors, Senior Citizen Saving Scheme for senior citizens, PPF, KYC and NSC scheme for long term investors, Fixed deposit and RD schemes are included for short term investors.
Investment amount in small savings scheme and interest rate on it
TDS on interest
The post office operates many schemes for investors. However, not all investment options are tax free. Interest paid on some post office schemes is taxable.