Are you also considering investing in small savings schemes in the near future? If so, this information will be very useful to you. There are four Post Office schemes where your money remains safe, and you also earn attractive interest. Let us tell you about these four schemes in detail.

1. What are these 4 schemes?
These excellent Post Office schemes are:

Post Office Time Deposit
National Savings Certificate (NSC)
Monthly Income Scheme (MIS)
Senior Citizen Savings Scheme (SCSS)

2. What are the interest rates?
You can find the details of all four schemes in the table below:

Scheme Name                Interest Rate    Interest Payout Method    Tenure (Duration)    Key Feature / Benefit  Post Office Time Deposit

(5-Year Time Deposit)    7.5% per annum    Calculated quarterly, but payout is annual    5 years Your money remains completely safe with zero risk.
National Savings Certificate

(NSC)    7.7% per annum    Compounding interest; total amount received at maturity    5 years
Offers tax-saving benefits (under Section 80C).
Monthly Income Scheme

(MIS)    7.4% per annum    Credited directly to your bank account every month    5 years
Best for those who need a regular monthly income to manage household expenses.
Senior Citizen Savings Scheme

(SCSS)    8.2% per annum    Credited to the account every 3 months (quarterly)    5 years
Excellent for senior citizens, as it offers the highest interest rate.

Which one is right for you? 

If you want to build a substantial corpus over five years, you can opt for Time Deposits or the NSC; however, if you require a regular monthly income to cover household expenses, the MIS is a good choice. On the other hand, if you are a senior citizen—or wish to invest in the name of one—the SCSS is the best option, as it offers the highest interest rates.

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