Current Small Savings Schemes With Main Features
Post Office Time Deposits
Post Office Recurring Deposits
Post Office Monthly Income Scheme [Post Office MIS]
National Savings Certificates [NSC]
Kisan Vikas Patra - [KVP]
Public Provident Funds [PPF]
Deposit Scheme for Retiring Government Employees.
Deposit Scheme for Retiring Employees of Public Sector Companies.
Postal Life Insurance

Recurring Deposit Accounts (RD)

Public Provident Funds (PPF)

Time Deposit

National Saving Certificate (NSC)

Post Office Monthly Income Account is meant for those investors who want to invest a lump sum and earn interest on monthly basis for their livelihood. The scheme is, therefore, a boon for retired persons.Period of maturity of an account is six years, bonus equal to ten per cent of deposits shall be paid alongwith principle amount. Income tax relief is available on the interest earned.Interest is 8 per cent/ per annum, payable monthly in respect of the accounts opened on or after the 1st March, 2003.

Income Tax rebate is available ‘on the deposits made’, under Section 88 of Income tax Act, as amended from time to time.