What are Small Savings Instruments?
Small savings instruments are managed by the central government to encourage citizens to save regularly, irrespective of their age. They provide returns that are usually higher than bank fixed deposits and come with a sovereign guarantee and tax benefits.
What are some types of Small Savings Instruments?
The small savings instruments include Public Provident Fund Account (PPF), Sukanya Samriddhi Scheme, Senior Citizen Savings Scheme, Post Office Savings Account, 5-Year Post Office Recurring Deposit Account (RD), National Savings Certificates (NSC).
What are the latest interest rates of Small Savings Instruments?
The government has decided to maintain the status quo on interest rates of small savings instruments for the April-June quarter. The interest rates vary between 4% and 7.6% depending on the type of scheme.
What are some important Small Savings Schemes?
Some important Small Savings Schemes include Post Office Savings Account, Kisan Vikas Patra (KVP), Senior Citizen’s Savings Scheme, Public Provident Fund (PPF), National Savings Certificate (NSC), and Sukanya Samriddhi Scheme.
