SMALL SAVING SCHEMES

10 SMALL SAVINGS SCHEMES AND THEIR INTEREST RATES FOR INVESTORS IN 2024

Published By Veerang Vats | 11 Nov, 2024

Check out the various small savings options available across India and the interest rates, investment options, and security offered.

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Here's a list of 10 small saving schemes and their interest rates in 2024:

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Public Provident Fund

Investment in public provident fund offers 7.1 percent per annum to investors. The minimum investment one can make is  <span class='webrupee'>₹</span>500 and the maximum is  <span class='webrupee'>₹</span>1.5 lakh per annum.

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Post office savings account

It offers 4 percent interest per annum. The minimum amount that one can invest is  <span class='webrupee'>₹</span>500 to open the account.

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National Savings Recurring Deposit

It offers 6.7 percent interest on deposits. The minimum contribution to recurring deposit is  <span class='webrupee'>₹</span>100 per month.

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National Savings Time Deposit

It offers various interest rates ranging from 6.9% to 7.5% depending on the tenure.  The minimum amount that one can invest is  <span class='webrupee'>₹</span>1000 to open the account.

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National Savings monthly income account

This account offers 7.4 per cent per annum payable monthly. The minimum one can invest in this scheme is  <span class='webrupee'>₹</span>1,000.

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Senior Citizen Savings Scheme

This scheme offers 8.2 percent interest per annum. One can make a deposit of  <span class='webrupee'>₹</span>1,000 and maximum upto  <span class='webrupee'>₹</span>30 lakh

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Sukanya Samriddhi Account

One gets to earn 8.2 percent per annum, can invest anywhere between  <span class='webrupee'>₹</span>250 to  <span class='webrupee'>₹</span>1.5 lakh in one year.

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National Savings Certificate

One can earn 7.7 percent compounded annually but payable at maturity on NSC. The minimum investment is  <span class='webrupee'>₹</span>1,000 and in multiples of  <span class='webrupee'>₹</span>100. 

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Kisan Vikas Patra

It offers 7.5 percent compounded annually. The minimum investment is  <span class='webrupee'>₹</span>1,000 and in multiples of  <span class='webrupee'>₹</span>100 while there is no maximum limit.

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Mahila Samman Savings Certificate

This scheme offers an interest of 7.5 percent per annum. The deposit can be made for an amount between  <span class='webrupee'>₹</span>1000 and  <span class='webrupee'>₹</span>2 lakh.

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