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 ₹500 and the maximum is ₹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 ₹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 ₹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 ₹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 ₹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 ₹1,000 and maximum upto ₹30 lakh
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Sukanya Samriddhi Account
One gets to earn 8.2 percent per annum, can invest anywhere between ₹250 to ₹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 ₹1,000 and in multiples of ₹100.
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Kisan Vikas Patra
It offers 7.5 percent compounded annually. The minimum investment is ₹1,000 and in multiples of ₹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 ₹1000 and ₹2 lakh.