India Post provides a range of post office savings schemes, ensuring secure investment options with guaranteed returns. Risk-free investment opportunities are accessible at every post office across India.
These schemes include the National Savings monthly income account, National Savings recurring deposit account, Sukanya Smariddhi yojana, Kisan Vikas Patra and many more. India Post keeps updating the interest rate on these schemes. The highest interest savings schemes are the Senior Citizens Savings schemes account with 8.2% per annum interest and the Sukanya Samriddhi account scheme with 8.0% per annum interest.
The Top 5 India Post Savings Schemes are:
1. Senior Citizens Savings Scheme Account (SCSS)
Who can apply:
- Persons above 60 years
- Retired Civilian above 55 years of age and below 60 years of age
- Retired Defense above 50 years of age and below 60 years of age
Interest rate: 8.2% per annum
2. Sukanya Samriddhi Account (SSA)
Who can apply:
- Open by a Trustee for a girl below 10 years of age
- The account can be opened for a maximum of two girls in a family.
Interest rate: 8.0% Per Annum
3. National Savings Certificates (VIIIth Issue) (NSC)
Who can apply:
- An adult
- Joint Account (up to 3 adults)
- a caretaker in case of a minor or case of a mentally disturbed person
- a minor over 10 years old
Interest rate: 7.7 % compounded annually
4. Kisan Vikas Patra (KVP)
Who can apply:
- an adult
- Joint Account (up to 3 adults)
- a caretaker on behalf of a minor or behalf of a person of unsound mind
- a minor over 10 years old
Interest rate: 7.5 % annually
5. National Savings Monthly Income Account (MIS)
Who can apply:
- An adult
- Joint Account (up to 3 adults)
- a caretaker in case of a minor or on behalf of a person of unsound mind
- a minor over 10 years old
Interest rate: 7.4 % per annum
To access comprehensive details, please refer to India Post’s official website for information on government-backed savings schemes.