Government of India has introduced various savings schemes for its citizens looking at their need. These schemes are offered via post offices and banks to the common man. National Savings Institute (NSI) which is a part of Ministry of Finance-Government of India, works for mobilization of savings in the National Savings Schemes of Government of India. Government also puts in various efforts to promote these schemes and make people aware of saving/investments. NSI carries out advertisements of the schemes, conducts trainings/seminars, trains the staffs/agents and also looks into customer grievances. The gist of National Small Savings Schemes is placed below.
| National Small Savings Schemes – Interest Rate Comparison | ||
| Scheme & Tenure | Interest Rate per annum | Illustration |
| Fixed Deposit (FD) – 1 Year | 5.50% | Interest compounded quarterly. 1 Lakh deposit will earn Rs. 5,610/- interest. |
| Fixed Deposit (FD) – 2 Years | 5.50% | Interest compounded quarterly. 1 Lakh deposit will earn Rs. 5,610/- interest. |
| Fixed Deposit (FD) – 3 Years | 5.50% | Interest compounded quarterly. 1 Lakh deposit will earn Rs. 5,610/- interest. |
| Fixed Deposit (FD) – 5 Years | 6.70% | Interest compounded quarterly. 1 Lakh deposit will earn Rs. 6,870/- interest. |
| Kisan Vikas Patra (KVP) – 10 Years & 4 months | 6.90% | Interest accrued annually & paid on maturity along with principal. |
| Recurring Deposit (RD) – 5 Years | 5.80% | Interest compounded quarterly. |
| National Savings Certificate (NSC) – 5 Years | 6.80% | Interest accrued annually & paid on maturity along with principal. |
| National Savings Monthly Income Scheme (MIC) – 5 Years | 6.60% | Interest accrued & paid monthly. 1 Lakh deposit will give Rs. 550/- monthly interest. |
| Post Office Savings A/C | 4.00% | Interest accrued & paid quarterly. |
| Public Provident Fund (PPF) – 15 Years | 7.10% | Interest accrued annually & credited to PPF balance. |
| Senior Citizen Savings Scheme (SCSS) – 5 Years | 7.40% | Interest accrued & paid quarterly. 1 Lakh deposit will give Rs. 1,850/- quarterly interest. |
| Sukanya Samriddhi Yojna (SSY) | 7.60% | Interest accrued annually & credited to SSY balance. |
Disclaimer: While we have put in our best effort for providing you the latest interest rates, viewers need to cross check before investing and invest at their own risk. Updated on 28/02/2022.