Get up to 8.2% interest from Senior Citizen Savings Scheme, Sukanya Samriddhi and 4 other post office schemes Here is a list of small savings schemes offering interest rates between 7.5% and 8.2% for October - December 2024
Small savings schemes offer various deposit schemes catering to different individuals such as girl child (Sukanya Samriddhi), women investors (Mahila Samman), senior citizens (Senior Citizen Savings Scheme), long-term investors (Public Provident Fund, Kisan Vikas Patra, National Savings Certificate) and short-term investors (time deposits, recurring deposit).#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} The government reviews interest rates of small savings schemes quarterly. The Ministry of Finance said in a press release dated September 30, 2024, “The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from 1st October 2024 and ending on 31st December 2024 shall remain unchanged from those notified for the second quarter of FY 2024-25."
Earn FD interest rates up to 8.25%: 3 banks that have revised FD rates in November 2024
So for this quarter, the government has not made any changes to the interest rate of small savings schemes.
Here is a list of small savings schemes offering interest rates between 7.5% and 8.2% for October - December 2024.
Office Productivity
Advanced Excel Course - Financial Calculations & Excel Made Easy
By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant
Finance
A2Z Of Money
By - elearnmarkets, Financial Education by StockEdge
Leadership
Crafting a Powerful Startup Value Proposition
By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience
Marketing
Digital Marketing Masterclass by Pam Moore
By - Pam Moore, Digital Transformation and Social Media Expert
Leadership
Business Storytelling Masterclass
By - Ameen Haque, Founder of Storywallahs
Leadership
From Idea to Product: A Startup Development Guide
By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience
Web Development
JavaScript Essentials: Unlock AI-Driven Insights with ChatGPT
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Intermediate Java Mastery: Method, Collections, and Beyond
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Advanced Java Mastery: Object-Oriented Programming Techniques
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Intermediate C++ Skills: Master Pointers, Structures and File Stream
By - Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator
Strategy
Succession Planning Masterclass
By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
Finance
Crypto & NFT Mastery: From Basics to Advanced
By - CA Raj K Agrawal, Chartered Accountant
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital marketing - Wordpress Website Development
By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Artificial Intelligence(AI)
ChatGPT Mastery from Zero to Hero: The Complete AI Course
By - Metla Sudha Sekhar, IT Specialist and Developer
Senior Citizen Savings Scheme (SCSS) interest rate for December quarter
The Senior Citizen Savings Scheme (SCSS) is a government-backed scheme that provides a steady income for senior citizens and retired personnel. The minimum deposit in all SCSS accounts opened by an individual is Rs. 1000, and in multiples of Rs. 1000 is subject to a maximum limit of Rs. 30 lakh.It offers 8.2% interest per annum on the Senior Citizen Savings Scheme for October-December, 2024.
5-year Post Office Time Deposit interest for October-December, 2024
The investment under 5-year Post Office Time Deposit qualifies for deduction under Section 80C of the Income Tax Act, 1961. The minimum investment for a time deposit is Rs. 1,000.You get an interest rate of 7.5% on a 5-year term deposit for the October-December quarter of 2024.
National Savings Certificate interest rate for October-December, 2024
The National Savings Certificate (NSC) is a government-backed savings scheme offering fixed returns and tax benefits. Deposits under the scheme qualify for deduction under Section 80C of the Income Tax Act. The deposits mature on completion of five years from the date of the deposit.National Savings Certificate offers an interest of 7.7% for the October-December quarter of 2024.
The interest rate is compounded annually but payable at maturity on the National Savings Certificate, according to the India Post website.
Kisan Vikas Patra (KVP) interest rate for the October-December quarter
Kisan Vikas Patra (KVP) is a low-risk investment that offers guaranteed returns and a fixed interest rate. The amount invested doubles in 115 months (9 years & 7 months).For the October-December quarter, KVP offers an interest rate of 7.5% per annum. The interest rate is compounded annually.
Mahila Samman Savings Certificate interest rate for the October-December quarter
The Mahila Samman Savings Certificate (MSSC) is a government-backed plan that enables women and girls to invest up to Rs 2,00,000. Investment can be made under the scheme up to March 2025. According to the India Post website, “After two years from the date opening eligible balance will be paid to the depositor.”It offers an interest rate of 7.5% interest per annum. Interest will be compounded quarterly and credited to the account and paid at the time of account closure.
Sukanya Samriddhi Yojana interest rate for the October-December quarter 2024
The Sukanya Samriddhi Yojana (SSY) is a government-backed savings scheme for parents of girl children in India. Deposits under the scheme qualify for deduction under Section 80C of the Income Tax Act. Interest earned is tax-free under the Income Tax Act. Sukanya Samriddhi account will be operated by the guardian till the girl child attains the age of majority (i.e. 18 years).Sukanya Samriddhi Yojana offers 8.2% interest for the October-December quarter of 2024.
Interest rate of Senior Citizen Savings Scheme, National Savings Certificate, Kisan Vikas Patra other post office schemes for the October-December, 2024.
InstrumentsRate of interest w.e.f 01.10.2024 to 31.12.20245 Year Time Deposit7.5%Senior Citizen Savings Scheme8.2%National Savings Certificate (VIII Issue)7.7%Kisan Vikas Patra7.5% (will mature in 115 months)Mahila Samman Savings Certificate7.5%Sukanya Samriddhi Account Scheme8.2%Source: India Post website
#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}
This story originally appeared on: India Times - Author:Faqs of Insurances
