If you’re considering an investment, the Modi government’s Small Savings Scheme might be the right choice for you.
This government-backed initiative ensures safety and guaranteed returns. The government periodically reviews and adjusts the interest rates on these schemes.
Key Points
1) Small savings schemes enjoy government backing, assuring investors of secure returns.
2) Popular schemes like PPF and SCSS offer income tax benefits up to Rs 1.5 lakh under Section 80C of the IT Act.
3) Current interest rates for October-December 2023 are 7.1% on PPF, 8.2% on SCSS, 8.0% on Sukanya Yojana, 7.7% on NSC, 7.4% on PO, 7.5% on Kisan Vikas Patra, and 6.9% on 1-Year Deposit, among others.
About Small Savings Schemes
Small Savings Schemes, backed by the government, provide secure and attractive investment opportunities while mobilizing resources for development.
The government offers nine types of schemes, including Recurring Deposit, Public Provident Fund, Sukanya Samriddhi Yojana, Mahila Samman Savings Certificate, Kisan Vikas Patra, National Savings Certificate, and Senior Citizen Savings Scheme.
