Government Savings Schemes: Want to invest? So these 10 government schemes which will get more profit, know the interest rates of all the schemes here

Government Savings Schemes: Discover the Top 10

The government operates a variety of schemes that offer not only attractive interest rates but also tax benefits. In this article, we will explore these government savings schemes and their respective interest rates.

If you’re considering investing in a government scheme instead of diversifying across various sectors, this information will be highly valuable. Today, we’ll delve into the details of 10 government-run schemes. It’s important to note that the central government administers several savings schemes. By making regular investments, whether monthly, semi-annually, or annually, you can build a substantial fund. This fund not only caters to your financial needs but also has the potential to increase your wealth over time. Additionally, investors in these schemes can benefit from tax exemptions.

For the April-June 2023 quarter, the government has announced an increase in interest rates of up to 70 basis points (BPS) for small savings schemes. Some of the schemes that will benefit from this rate hike include the Senior Citizens Savings Scheme (SCSS), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), and Kisan Vikas Patra (KVP). Let’s delve into the specifics of each of these plans.

Interest Rates for Each Scheme:

1. Senior Citizens Savings Scheme (SCSS): The interest rate has been revised upward from 8% to 8.2%.
2. National Savings Certificate (NSC): The interest rate has been increased from 7% to 7.7%.
3. Sukanya Samriddhi Yojana (SSY): The interest rate has been raised from 7.6% to 8%.
4. Kisan Vikas Patra (KVP): The interest rate has been adjusted from 7.2% (120 months) to 7.5% (115 months).
5. Monthly Income Scheme in Post Office: The interest rate has been elevated from 7.1% to 7.4%.
6. Public Provident Fund (PPF): The interest rate stands at 7.1%.
7. 1-Year Post Office Time Deposit: The interest rate has been hiked from 6.6% to 6.8%.
8. 2-Year Post Office Time Deposit: The interest rate has been raised from 6.8% to 6.9%.
9. 3-Year Post Office Time Deposit: The interest rate has been increased from 6.9% to 7%.
10. 5-Year Post Office Time Deposit: The interest rate has been adjusted from 7% to 7.5%.

This information provides valuable insights into government savings schemes and their associated interest rates, enabling you to make informed investment decisions.