Small Saving Schemes
Best Small Savings Schemes in India in 2024: SCSS, PPF, NSC, others’ interest rates, tax benefits
Interest rate: 7.10% for the January-March quarterMinimum investment: Rs 500Maximum investment: Rs 1.5 lakh per annumFeatures: 15-year tenure, tax-free returnsTax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.
Interest rate: 7.70% for the January-March quarterMinimum investment: 1,000Maximum investment: No limitFeatures: No TDSTax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.
Interest rate: 7.40% for the January-March quarterMinimum investment: Rs 1,000Maximum investment: Rs 9 lakh for single account, Rs 15 lakh for joint accountsFeatures: 5-year tenure, monthly returnsTax benefits: Nil
Interest rate: 8.20% for the January-March quarterMinimum investment: Rs 1,000Maximum investment: Rs 30 lakhFeatures: 5-year tenure, minimum age of 60 yearsTax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.
Interest rate: 8.20% for the Janaury-March quarterMinimum investment: Rs 250Maximum investment: Rs 1.5 lakh per annumFeatures: One account per girl childTax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act.
Interest rate: 7.50% for the January-March quarterMinimum investment: 1,000Maximum investment: No limitFeatures: Can be encashed after 2.5 yearsTax benefits: Nil
Interest rate: 6.9%-7.50% for the January-March quarter (depending on the tenure)Minimum investment: Rs 1,000Maximum investment: No limitFeatures: Available in 1, 2, 3, 5 year tenuresTax benefits: Can get a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act only for 5-year time deposits.
Interest rate: 6.70% for the January-March quarterMinimum investment: 100Maximum investment: No limitFeatures: 5-year tenureTax benefits: Nil
Source : Economic Times
