The Nationwide Financial savings Schemes (NSSs) are one of many extremely popular saving schemes in India. These are regulated by the Ministry of Finance. They’re thought-about to be very protected and include enticing returns.
These schemes additionally act as devices of economic inclusion particularly within the geographically inaccessible areas as a consequence of their implementation primarily by the Submit Workplaces, which have attain far and broad.
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 thought on the entire excellent quantities which can be with varied small financial savings schemes.
Among the extremely popular schemes which fall underneath Small Financial savings Schemes are as under;
- 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 newest 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 under;
| 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 Youngster Scheme | 8.2% | 8.2% | Yearly | 1.5 Lakh | 21 |
| 5 12 months 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 12 months Time period Deposit | 6.9% | 6.9% | Quarterly | No Restrict | 1 |
| 2 12 months Time period Deposit | 7% | 7% | Quarterly | No Restrict | 2 |
| 3 12 months Time period Deposit | 7.1% | 7.1% | Quarterly | No Restrict | 3 |
| 5 12 months Time period Deposit | 7.5% | 7.5% | Quarterly | No Restrict | 5 |
| 5 12 months Recurring Deposit | 6.7% | 6.7% | Quarterly | No Restrict | 5 |
| 5 12 months MIS | 7.4% | 7.4% | Month-to-month & Paid | 9.5 Lakh Single A/c 15 Lakh Joint A/c | 5 |
| 5 12 months 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 12 months 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 observe 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 underneath 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.
Continue studying associated articles :
(Submit first printed on : 06-Apr-2024)
