Table 123 : Small Savings Schemes

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Table 123 : Small Savings Schemes

Name of the Scheme	Limits of Investment (Present Status)	Maturity Period (Years)		Rate of Interest (per cent per annum)								Deductions under Sec. 80C of Income Tax Act (Present Status)	Amount Outstanding at end-Mar. 2014 (₹ Billion)
Name of the Scheme	Limits of Investment (Present Status)	Since Sep.2, 1993	Since Jan.2, 1999	Since Mar. 1, 2001	Since Mar. 1, 2002	Since Mar. 1, 2003	Since Dec. 1, 2011	Since Apr . 1, 2012	Since Apr. 1, 2013	Since Apr. 1, 2014	Since Apr. 1, 2015		Amount Outstanding at end-Mar. 2014 (₹ Billion)
1	2	3	4	5	6	7	8	9	10	11	12	13	14
Post Office Savings Bank Accounts	Minimum ₹20 for opening	#	#	3.5 ###	3.5 ###	3.5 ###	4.0	4.0	4.0	4.0	4.0	No	430.17
Public Provident Fund 1968	Minimum ₹500 and Maximum ₹1,50,000 in a Financial Year	15	15	9.5	9.0	8.0	8.6	8.8	8.7	8.7	8.7	Yes	466.08
Post Office Time Deposit Account	Minimum ₹200 and no Maximum Limit	1,2,3 and 5	1,2,3 and 5	-	-	-	-	-	-	8.4	-	-	407.14
(i) 1 Year		-	-	7.5	7.3	6.3	7.7	8.2	8.2	8.4	8.4	-	273.43
(ii) 2 Year		-	-	8.0	7.5	6.5	7.8	8.3	8.2	8.4	8.4	-	17.67
(iii) 3 Year		-	-	9.0	8.3	7.3	8.0	8.4	8.3	8.4	8.4	-	39.15
(iv) 5 Year		-	-	9.0	8.5	7.5	8.3	8.5	8.4	8.5	8.5	Yes	76.89
Post Office Recurring Deposit Account	Minimum ₹10 per month or Any Amount in Multiples of ₹5 and No Maximum Limit	5	5	9.0	8.5	7.5	8.0	8.4	8.3	8.4	8.4	No	741.49
National Savings Scheme 1992	Discontinued	4	4	9.0	8.5	-	-	-	-	-	-	-	2.77
Post Office Monthly Income Scheme	Minimum ₹1500 and Maximum ₹4.5 Lakh in Single Account and ₹9 Lakh in Joint Account	6	6+	9.5	9.0	8.0	8.2	8.5	8.4	8.4	8.4	No	2020.85
NSC VIII issue (For 5 years)	Minimum ₹100 and No Maximum Limit	6	6	9.5	9.0	8.0	8.4	8.6	8.5	8.5	8.5	Yes	750.86
NSC IX issue (For 10 years)	Minimum Rs. 100 and No Maximum Limit	-	10^^	-	-	-	8.7	8.9	8.8	8.8	8.8	Yes	-
Indira Vikas Patra	Discontinued	5 1/2	6	-	-	-	-	-	-	-	-	Yes	8.96
Kisan Vikas Patra	Minimum Rs.1000, no upper limit	5 1/2	6@@	10.0 @	9.5 @	8.4 @	-	-	-		8.7	-	1067.54
Senior Citizens Saving Scheme	Minimum ₹1000 and Maximum ₹15 Lakh	-	5^	-	-	9.0 ^	-	9.3	9.2	9.2	9.3	Yes	224.92
Sukanya Samriddhi Accounts	Minimum Rs 1,000 and Maximum Rs.1.5 Lakh	-	-	-	-	-	-	-	-	-	9.2	Yes	-
# Open-ended scheme. ## 4.5 per cent for individual/joint and group account, 4 per cent for public account and security deposit accounts - for purchase of motor vehicles or tractors, 3 per cent for official capacity accounts and other accounts. ### 3.5 per cent for individual/joint and group account, 3 per cent for public account and security deposit accounts - for purchase of motor vehicles or tractors, 2 per cent for official capacity accounts and other accounts. + Maturity period is 5 years from 1.12.2011. & Interest accrued annually will be added to the income but will be treated as ‘deemed to be reinvested’ under Section 80C. ^ Introduced in August 2004. @ Compounded interest rate. @@ Maturity period was raised to 6 1/2 years with effect from January 15, 2000, 7 years 3 months from March 1, 2001, 7 years 8 months from March 1, 2002 and 8 years 7 months from March 1, 2003. ^^ Introduced in December 2011. Also see Notes on Tables. Sources : 1. National Savings Organisation. 2. Receipts Budget, Government of India. 3. Accountant General, Posts & Telegraph. 4. Press releases and Indian Public Finance Statistics, Ministry of Finance, Government of India. 5. Report of the Advisory Committee to Advise on the Administered Interest Rates and Rationalisation of Savings Instruments.