National Savings Schemes

National Savings Schemes earlier known as Small Savings Schemes have been a traditional investment avenue. These schemes provide high security and assured returns being Government guaranteed schemes.

Change in rate of interest for 1st October 2018 to 31st December 2018 

Savings Account
  • Cheque facility available
  • Minimum Rs.50 and maximum no limit
  • Interest 4% on Single and Joint Accounts
National Savings Certificate – (VIII Issue)
  • Rs.100 Grow to Rs.
  • Minimum Rs.100
  • Available in denomination of Rs.100 Rs.500 Rs.1000 Rs.5000 Rs.10000
  • Deposit qualifies for deduction u/s 80c of Income Tax Act
  • Can be encashed after 5 years
Monthly Income Scheme
  • Interest @ 7.70% p.a. payable monthly
  • Minimum deposit Rs.12000
  • Maximum Rs.4.50 Lakhs in Single account and Rs.9.00 Lakhs in joint account
  • Maturity period 5 years
  • Prematurity closer available after 1 year with deduction on interest
Time Deposit Account
  • Interest payable annually but calculated quarterly
  • Minimum Rs.200
  • Maturity 1 year 2 Years 3 Years 5 Years
  • Interest 1 year 6.90%
  • Interest 2 Years 7.00%
  • Interest 3 Years 7.20%
  • Interest 5 Years 7.80%
  • Deposits made in 5 years account qualify for deduction u/s 80c of Income Tax Act.

Public Provident Fund (PPF)
  • The Public Provident Fund (PPF) is a long term savings instrument. This scheme was established by Central Government in 1968. The objective of the scheme is to provide old-age security to the self-employed and for those who are working in un-organised sector. This scheme provides assured and tax free returns along with tax benefit on contribution made in to this scheme U/s 80c of Income Tax Act(India) as per prevailing rules.
  • You need to be Resident Indian
  • No entry age you can open an account for Minor child also
  • Minimum: Rs.500/= in one Financial Year
  • Maximum: Rs.1,50,000/= as per prevailing rules of Sec. 80c of Income Tax Act
  • Maximum 12 deposits can be made during Financial Year
  • 8.00% compounded Annually ( w.e.f. 1/10/2018)
  • Interest rate varies every year as per Central Government announcement.
  • 15 years
  • On completion of 15 years the account can be extended by 5 years
  • Individual
  • Minor through the guardian
  • Nomination facility available for account held by Adult individual.
Kisan Vikas Patra
  • Doubles in 112 Months
5 Year Senior Citizen Savings Scheme
  • Rate of Interest 8.70% Payable Quarterly