Small savings schemes, such as the 15-year Public Provident Fund (PPF), the Kisan Vikas Patra and the Monthly Income Scheme, currently provide annual returns to the tune of 4-7.6 per cent. These rates are applicable till December 31. The government currently provide nine small savings schemes including the Public Provident Fund, which comes with a maturity period of 15 years. The government reviews the interest rates applicable to these savings schemes on a quarterly basis.
Here’s a comparison of the interest rates and other important features of these small savings schemes, in the third quarter of current financial year:
Of these schemes, the time deposit or term deposit scheme comes in four maturity options, ranging from one to five years.
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