Comparison of the various Post office savings schemes

Scheme Interest Rate Minimum Maximum Eligibility Tax Implications

Investment Investment

Post Office 4% per annum – Rs 20 No limit Resident Indian, Minor Tax free Interest up to Rs
Savings Account (p.a.) and Majors 50,000 from financial year
– Non- 2018-19
Cheque
Facility Rs 50

Post Office Time First year – 6.9% Rs 200 No limit Individual Tax benefits up to 5 years
Deposit Account p.a. under section 80C
(TD) Second year - on deposits
6.9% p.a.
Third Year –
6.9% p.a.
Fourth Year –
7.7% p.a.

Post Office 7.6 % per annum Rs 1500 For one account Individual Interest earned is Taxable
Monthly Income payable monthly holder Rs 4.5 lacs & No deduction under Sec
Scheme Account and joint account 80C for Deposits made.
(MIS) holders Rs 9 lacs

Senior Citizen 8.6 % p.a. Rs 1000 Maximum deposit Individual of age> 60 – Tax benefit under section
Savings Scheme (Compounded over the lifetime years or age >55 years 80C for deposits
(SCSS) Annually) allowed at Rs 15 who have opted for VRS – TDS to be deducted on
lacs or Superannuation interest earned for more
than Rs 50,000 p.a.

15 year Public 7.9 % p.a. Rs 500 per Rs 1.5 lacs per Individual Tax rebate under section
Provident Fund (Compounded financial year financial year 80C for deposits
Account (PPF) Annually) (maximum Rs 1.5 lacs pa)

National Savings 7.9 % p.a. Rs 100 No Limit Individual Tax rebate under section
Certificates (Compounded 80C for deposits
(NSC) Annually) (maximum Rs 1.5 lacs pa)

Kisan Vikas 7.6 % p.a. Rs 1000 No limit Individual (Adult) Interest is taxable but no
Patra (KVP) (Compounded tax on the amount received
Annually) on maturity

Sukanya 8.4 % p.a. Rs 1000 per Rs 1.5 lacs per Girl Child – up to 10 Investment (up to Rs 1.5
Samriddhi (Compounded financial year financial year years from birth and 1 lacs exempt under Section
Accounts Annually) additional year of grace 80C), interest and amount
received on maturity is tax
free