Post Office Schemes Interest Rates: A rate of interest of 7.1 per cent per annum (compounded yearly) is applicable on PPF.
Post Office Schemes are trustworthy and popular at the same time. These schemes offer a stable return and assured interest rate. Some of the popular Post Office Schemes with the maximum interest rates are Sukanya Samriddhi Scheme, Senior Citizen Savings Scheme, Public Provident Fund Scheme, Kisan Vikas Patra, and National Savings certificate scheme.
Sukanya Samriddhi Scheme Interest Rate
- Sukanya Samriddhi Scheme can be opened by the guardian in the name of girl child below the age of 10 years.
- Minimum investment can be made of Rs 250 and the maximum Rs 1,50,000 in a financial year.
- Rate of interest 7.6 per cent Per Annum is calculated on yearly basis, yearly compounded.
Senior Citizen Savings Scheme Interest Rate
- Senior Citizen Savings Scheme is a popular scheme for retired persons and elderly individuals.
- 7.4 per cent per annum, payable from the date of deposit of 31st March/30th Sept/31st December in the first instance and thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st December, India Post stated.
- There must be only one deposit in the account in multiple of Rs 1,000 and maximum amount must not exceed Rs 15 lakh.
Public Provident Fund PPF Interest Rate
- Public Provident Fund (PPF) can be opened by anyone.
- A rate of interest of 7.1 per cent per annum (compounded yearly) is applicable on PPF.
- Minimum of Rs 500 and the maximum of Rs 1,50,000 in a financial year. Deposits can be made in lump-sum or in installments.
Kisan Vikas Patra Interest Rate
- Under Kisan Vikas Patra scheme, one can invest a minimum of Rs 1,000.
- A rate of interest 6.9 per cent compounded annually.
- Amount Invested doubles in 124 months (10 years and 4 months), according to India Post.
National Savings Certificate Scheme Rate
- National Savings Certificate Scheme allows one to invest a minimum of Rs 1,000. There is no maximum limit.
- A rate of interest of 6.8 per cent is compounded annually but payable at maturity.
- Rs 1000 grows to Rs 1389.49 after 5 years.
- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
