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Small Savings Schemes Offer Up To 8.6% Return In December Quarter

The post office fixed deposit account is currently available in four maturity (lock-in) options

Post Office Interest Rate: The Department of Posts offers nine different types of small savings schemes at designated post offices. These investment schemes – including the 15-year Public Provident Fund account and the Senior Citizen Savings Scheme – offer interest rates to the tune of 4-8.6 per cent in the quarter ending December 31, according to India Post’s website – The interest rates applicable to these small savings schemes are reviewed by the government every quarter. Opening of a post office account in any of these schemes requires minimum investment in the range of Rs 250-Rs 1,000.

Small savings schemes today offer these investment returns:

The post office time deposit (fixed deposit) account is available in four maturity options, from one year to five years. While the time deposit account of one-, two- and three-year maturity periods currently offer interest at the rate of 6.9 per cent each, the five-year option provides a return of 7.7 per cent.

India Post – which comes under the ambit of Ministry of Communications – has a network of more than 1.5 lakh post office branches across the country.

Source: NDTV Profit