Today there are many investment options in the market and people are getting very good returns from less investment, but seeing so many schemes, everyone gets confused as to where will be the safest to invest and today we will give you information about it only. will give
Safe investment options in the country include bank and post office FD, PPF, National Savings Certificate and Senior Citizen Saving Scheme etc. Small Savings Scheme motivates citizens to save regularly. A fixed interest is paid on these which is decided by the government. The government decides their interest every three months. Whereas banks themselves decide the interest received on their FD.
Interest received on FD of banks
Among big banks, HDFC Bank is offering maximum interest of up to 7.75 percent on FD. SBI is giving interest up to 7.50 percent annually on FD. The government is offering interest ranging from 4 percent to 8.2 percent on small savings schemes. The government will revise the interest rates on such schemes for October-December 2023 later this month. It is believed that there is little scope for change in these.
Interest on small savings scheme
Saving Account – 4 percent
1 year post office FD – 6.9 percent
2 year post office FD – 7.0 percent
3 year post office FD – 7 percent
5 year post office FD: 7.5 percent
5 year RD: 6.70 percent
National Savings Certificate (NSC): 7.7 percent
Kisan Vikas Patra: 7.5 percent (mature in 115 months)
Public Provident Fund: 7.1 percent
Sukanya Samridhi Account (Sukanya Samridhi Yojana): 8.0 percent
Senior Citizen Saving Scheme: 8.2 percent
Monthly Income Scheme: 7.4 percent
There are three types of small saving schemes. Saving Schemes, Social Security Schemes and Monthly Income Schemes. Saving schemes include 1 to 3 year deposit scheme, 5 year RD. Savings certificates like National Savings Certificate (NSC) and Kisan Vikas Patra (KVP) are also included. Social security schemes include Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Saving Scheme.
