Post Office Saving Scheme provides a number of the money-saving schemes in each and every branch of the post office in the country. Under the Post Office saving Scheme Government of India provides PPF, NSC, FD, RD, MIS, TD, KVP, and SCSS Type of scheme in each Post office. Today we will discuss here Post Office Saving Scheme Interest Rate & Tax Benefits. Post Office Saving Schemes are easy to invest. You easily enroll under the schemes. All schemes are risk-free because these all are regulated by the government.
Post Office Saving Scheme
In our country, every person is trying to get a better future & better Survival options in their life and for fulfilling this dream they start a number of Saving Schemes. Today Here we are providing you Latest Post Office Saving Scheme Details. The objective of these all schemes is to provide better Money Saving Options with different interest rates.
Detail of Post Office PPF, NSC, FD, RD, MIS
Today we are here to provide you all detail about all Post Office Saving Scheme . You will get here about all saving schemes Interest Rate, benefits, eligibility, minimum amount & Tax Benefits, etc. this scheme will be available In all post offices of the country. You may easily visit their regional post offices for opening any saving scheme.
Types of Post Office Saving Scheme
Year Post Office Recurring Deposit Account (RD) Post Office Time Deposit Account (TD) Post Office Monthly Income Scheme Account (MIS) Senior Citizen Savings Scheme (SCSS) 15 year Public Provident Fund Account (PPF) National Savings Certificates (NSC) Kisan Vikas Patra (KVP) Sukanya Samriddhi Accounts (SSA)
Benefits of Post Office Saving Scheme
There are following benefits of the scheme-
Easy to access. Better option of saving your future. Risk free. Have a better interest rate & Tax benefits. Easy to invest.
There are following document required of the scheme-
Aadhar Card Pan Card Address Proof KYC Form
Minimum Amount For Opening
Account name Minimum amount required to open account
Savings account (Cheque account)
Rs. 20
Savings account (non Cheque account)
Rs. 20
Monthly Income Scheme (MIS)
Rs. 1,500
Fixed Deposit (FD) Account
Rs. 200
Public Provident Fund (PPF)
Rs. 500
Senior Citizen Savings Scheme (SCSS)
Rs. 1,000
Interest Rate
Post Office Savings Scheme Name
Interest Rate for 1 January to 31 March 2019
Rate of Interest for 1 April to 30 June 2019
Interest Rate for 1 July to 30 September 2019
Interest Rate for 1 October to 31 December 2019
Compounding Frequency
Description about Post Office Scheme
Savings Deposit Scheme Account
4.0
4.0
4.0
4.0
Annually
Post Office Savings Bank Account (PO-SB) Details
1 Year Time Deposit
7.0
7.0
6.9
6.9
Quarterly
PO Fixed / Time Deposit Account (TD) Details
2 Year Time Deposit
7.0
7.0
6.9
6.9
Quarterly
3 Year Time Deposit
7.0
7.0
6.9
6.9
Quarterly
5 Year Time Deposit
7.8
7.8
7.7
7.7
Quarterly
Recurring Deposit (5 years)
7.3
7.3
7.2
7.2
Quarterly
PO Recurring Deposit Account (RD) Details
Senior Citizen Savings Scheme (5 years)
8.7
8.7
8.6
8.6
Quarterly & Paid
SCSS Account Details
Monthly Income Scheme Account (5 years)
7.7
7.7
7.6
7.6
Monthly & Paid
PO Monthly Income Scheme (MIS) Account Details
National Savings Certificate (5 years)
8.0
8.0
7.9
7.9
Annually
NSC Account Details
Public Provident Fund Scheme
8.0
8.0
7.9
7.9
Annually
PPF Account Details
Kisan Vikas Patra
7.7
7.7 (Maturity at 112 months)
7.6 (Maturity at 113 months)
7.6
Annually
KVP Account Details
Sukanya Samriddhi Account Scheme
8.5
8.5
8.4
8.4
Annually
SSA Account Details
Post Office Saving Scheme Tax Benefits
Scheme Tax Implications Post Office Savings Account
Tax free Interest upto Rs 10000 from the financial year 2012-13
5-Year Post Office Recurring Deposit Account
Tax benefit upto 5 years under section 80 C on deposits
Post Office Time Deposit Account (TD)
Tax benefit upto 5 years under section 80 C on deposits
Post Office Monthly Income Scheme Account (MIS)
Interest earned is Taxable & No deduction under Sec 80C for
Deposits made.
Senior Citizen Savings Scheme (SCSS)
– Tax rebate under section 80 C for deposits
– TDS to be deducted on interest earned for more than Rs
10000 pa
15 year Public Provident Fund Account (PPF)
Tax rebate under section 80 C for deposits (maximum Rs 1.5 lacs pa
National Savings Certificates (NSC)
Tax rebate under section 80 C for deposits (maximum Rs 1.5 lacs pa
Kisan Vikas Patra (KVP)
Interest is taxable but no tax on amount received on maturity
Sukanya Samriddhi Accounts
Investment (upto Rs 1,5 lacs exempt under Section 80C), interest and
Amount received on maturity is tax free
Eligibility For Post Office Saving Scheme
Scheme Eligibility
Post Office Savings Account
Resident Indian , Minor and Majors
5-Year Post Office Recurring Deposit Account
Individual
Post Office Time Deposit Account (TD)
Individual
Post Office Monthly Income Scheme Account (MIS)
Individual
Senior Citizen Savings Scheme (SCSS)
Individual of age> 60 years or age >55 years who have opted for
VRS or Superannuation
15 year Public Provident Fund Account (PPF)
Individual
National Savings Certificates (NSC)
Individual
Kisan Vikas Patra (KVP)
Individual (Adult)
Sukanya Samriddhi Accounts
Girl Child – Upto 10 years from birth and 1 additional year of grace
How To Apply For Post Office Saving Schemes
Any eligible candidate with all required documents may easily apply for Post Office Saving Scheme . Please visit your regional post office to open any above mentioned Post Office Saving Scheme. Submit your all required document with KYC form in the post office where you want to open your saving scheme You also visit the official website of the Post office for more queries.
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