Savings scheme

Postal interest rate, minimum investment, return

Postal account: Investment in a savings account is remunerated at the rate of 4% The government currently offers nine types of small savings schemes, ranging from Fixed Deposit (FD) to Sukanya Samriddhi and Senior Citizen Savings Scheme (SCSS). For the current quarter, which ends March 31, 2019, investments in small post office savings schemes are […]

Savings scheme

Interest rate of the savings plan for the elderly, account of the Public Provident Fund (PPF)

Postal savings: The Caisse d’Epargne Senior (SCSS) account has a maturity of 5 years. In the provisional budget for 2019-2020, the government proposed to raise the threshold for withholding tax (TDS) on interest received on bank and postal deposits from Rs 10,000 to Rs 40,000. With this announcement , depositors are likely to save more […]