The Nationwide Financial savings Schemes (NSSs) are one of many highly regarded saving schemes in India. These are regulated by the Ministry of Finance. They’re thought-about to be very secure and include engaging returns.
These schemes additionally act as devices of monetary inclusion particularly within the geographically inaccessible areas as a result of their implementation primarily by way of the Submit Places of work, which have attain far and huge.
Indian households’ financial savings in Submit workplace time deposits and PPF (Public Provident Fund) have been rising steadily since 2011. Under desk give us an concept on the entire excellent quantities which are with varied small financial savings schemes.
A number of the highly regarded schemes which fall beneath Small Financial savings Schemes are as beneath;
- PPF (Public Provident Fund)
- Sukanya Samriddhi Scheme
- Month-to-month Revenue Scheme (Month-to-month Revenue Account)
- Senior Citizen Financial savings Scheme
- KVP (Kisan Vikas Patra)
- NSC (Nationwide Financial savings Certificates)
- Time Deposits &
- Recurring Deposits
Newest Submit Workplace Small Saving Schemes Rates of interest Apr – Jun 2024 | Q1 of FY 2024-25
The federal government has saved rates of interest on all small financial savings schemes unchanged April to June quarter of FY 2024-25. The most recent charges of curiosity relevant on varied small financial savings schemes for the third quarter from Apr to Jun 2024 efficient from 1.04.2024 could be as beneath;
| Saving Scheme | Charges of Curiosity from 1st Jan 2024 to thirty first Mar 2024 |
New Charges of Curiosity from 1st Apr 2024 to thirtieth Jun 2024 |
Frequency of Compouding |
Most Deposit (in Rs) |
Tenure (Years) |
| Sukanya Samriddhi Account – Lady Baby Scheme |
8.2% | 8.2% | Yearly | 1.5 Lakh | 21 |
| 5 Yr Sr.CSS | 8.2% | 8.2% | Quarterly & Paid | 30 Lakh (w.e.f. FY 2023-24) |
5 |
| PPF | 7.1% | 7.1% | Yearly | 1.5 Lakh | 15 |
| Financial savings Deposit | 4.0% | 4.0% | Yearly | No Restrict | NA |
| 1 Yr Time period Deposit | 6.9% | 6.9% | Quarterly | No Restrict | 1 |
| 2 Yr Time period Deposit | 7% | 7% | Quarterly | No Restrict | 2 |
| 3 Yr Time period Deposit | 7.1% | 7.1% | Quarterly | No Restrict | 3 |
| 5 Yr Time period Deposit | 7.5% | 7.5% | Quarterly | No Restrict | 5 |
| 5 Yr Recurring Deposit | 6.7% | 6.7% | Quarterly | No Restrict | 5 |
| 5 Yr MIS | 7.4% | 7.4% | Month-to-month & Paid | 9.5 Lakh Single A/c 15 Lakh Joint A/c |
5 |
| 5 Yr NSC | 7.7% | 7.7% | Yearly | No Restrict | 5 |
| Kisan Vikas Patra (KVP) | 7.5% | 7.5% | Yearly | No Restrict | 115 months |
- With efficient from the Monetary Yr 2023-24, the utmost deposit restrict for the month-to-month financial savings scheme is enhanced from Rs.4.5 lakh to Rs.9 lakh for a single account and from Rs.9 lakh to Rs.15 lakh for a joint account.
- The utmost deposit for senior citizen saving scheme has been enhanced from Rs 15 lakhs to Rs 30 lakhs.
- Kindly be aware that rates of interest of Small Financial savings Schemes are actually reviewed and reset (if any) on a quarterly foundation.
- The revised charges (if any) are relevant for all the brand new investments MADE throughout the respective interval. For the present investments beneath all of the schemes (EXCEPT PPF & SUKANYA SAMRIDDHI SCHEME), the contracted rate of interest stays unchanged till maturity. The revised charges (if any) are relevant for all the brand new investments MADE throughout the respective interval.
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(Submit first revealed on : 06-Apr-2024)