Small savings schemes compared
Nine government-backed schemes, one table. The notified rate, the term, the limits and what each one costs you in tax.
| Scheme | Rate | Term | Limits | Tax | Access |
|---|---|---|---|---|---|
| Public Provident Fund | 7.10% | 15 years | ₹500 – ₹1.5 lakh | Tax-free | Partial after 5 years |
| Sukanya Samriddhi Yojana | 8.20% | 21 years | ₹250 – ₹1.5 lakh | Tax-free | On maturity / rules |
| Senior Citizens' Savings | 8.20% | 5 years | ₹1,000 – ₹30 lakh | Taxed; 80C | Quarterly payout |
| National Savings Certificate | 7.70% | 5 years | ₹1,000+ | Taxed; 80C | Locked 5 years |
| Kisan Vikas Patra | 7.50% | ~115 months | ₹1,000+ | Taxed | Locked |
| Post Office MIS | 7.40% | 5 years | ₹1,500 – ₹9 lakh | Taxed | Monthly payout |
| Post Office Time Deposit (5y) | 7.50% | 5 years | ₹1,000+ | Taxed; 80C on 5y | Locked, penalty on exit |
| Post Office Savings | 4.00% | None | ₹500+ | Taxed | Any time |
How to read this table
Every rate here is notified by the government and revised every quarter, unlike a bank FD rate which the bank sets itself. A scheme's rate can change after you open it — new contributions earn the rate in force at the time, while PPF balances earn the rate as revised.
The tax column is where these diverge sharply. PPF and SSY are exempt at all three stages. SCSS, NSC, KVP, MIS and the time deposits are taxable at your slab, with 80C available on some.
Which one for which purpose
- Long-term, tax-free: PPF for anyone, SSY for a daughter under 10.
- Regular income: SCSS pays quarterly and is built for people over 60; MIS pays monthly for anyone.
- A fixed five-year block: NSC, with 80C on the way in.
- Everyday cash: the Post Office savings account, at 4.00%.
Rates as of 2026-10-01. Source: National Savings Institute. Each scheme page carries its own dated figure and source link.