Check out these Post office saving schemes: Offers 7.6% interest rate.

1

Sukanya Samriddhi Account(SSA)  

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Deposit- Min: Rs 250 | Max: 1.5 Lakh Deposit Type: Lump sum or instalments

Interest: 7.6 %(compounded annually) Maturity: 21 years or At the time of marriage after 18 years. Benefit: Interest earned is tax-free Note: Only for Girl child

Senior Citizens Savings Scheme Account(SCSS)

2

Deposit- Min: Rs 1000 | Max: 15 lakh Deposit Type: One time

Interest: 7.6% Maturity: 5 years (May extend for further for 3 years) Note:  Interest earned is taxable if total interest exceeds Rs.50,000/- in financial year

3

Public Provident Fund Account(PPF )​

Deposit- Min: Rs 500 | Max: 1.50 lakh Deposit Type: Lump sum or instalments

Interest: 7.1 % (compounded yearly). Maturity: 15 years Benefit: Interest earned is tax-free

Kisan Vikas Patra (KVP )

Deposit- Min: 1000 | Max: No Limit Deposit Type: One time

Interest: 7% (compounded annually) Returns: Invested amount doubles in 123 months (10 years & 3months) Maturity Invested amount doubles in 123 months (10 years & 3 months)

4

National Savings Certificates (NSC)

Deposit- Min: 1000 | Max: No Limit Deposit Type: One time

Interest: 6.8 % (compounded annually but payable at maturity) Maturity: 5 Years

5

National Savings Monthly Income Account(MIS)

Deposit- Min: 1000 | Max: 4.5 lakh(single) 9 lakhs (joint) Deposit Type: One time

Interest: 6.7% ( payable monthly) Maturity: 5 years Note: Interest is taxable in hands of depositors.

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7

National Savings Time Deposit Account(TD) 

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Deposit- Min: Rs 1000 | Max: No Limit Deposit Type: One time

Interest: 1yr (5.5%), 2yr (5.7%),  3yr (5.8%), 5yr (6.7%) Maturity: On the expiry of account (1yr, 2yr, 3y, 5yr)

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