Post offices in India offer small savings schemes to citizens across diverse sectors. These schemes encompass a range of instruments with competitive interest rates and tax benefits. Popular among these are the Public Provident Fund (PPF), Sukanya Samriddhi Yojana, and Kisan Vikas Patra, each serving as a valuable avenue for wealth creation. These initiatives cater to the financial needs of individuals from various walks of life, fostering a culture of savings and investment. With widespread accessibility and the assurance of government backing, post office small savings schemes contribute significantly to financial inclusion and empower citizens to secure their financial future.
Rate of Interest: 4% per annum
Rate of Interest: 6.7 % per annum
(quarterly compounded)
Rate of Interest: 7.4 % per annum
payable monthly
Rate of Interest: 8.2% per annum
Rate of Interest: 7.1 % per annum
(compounded yearly).
Rate of Interest: 8.0 % per annum
(compounded yearly).
Rate of Interest: 6.9% to 7.5%
Interest rates vary based on the period
Rate of Interest: 7.5 % (compounded yearly)
Amount Invested doubles in 115 months (9 years & 7 months)
Rate of Interest: 7.5 %
(compounded Quarterly)
Rate of Interest: 7.7 %
payable at maturity (compounded yearly)
* Tax as applicable on the above service charges shall also be payable
The Department of Posts (DOP) through the Post Office Savings Bank (POSB) provides various types of accounts as an avenue to the citizens to save and invest their money. The account holders of these schemes are provided a physical passbook into which entries of the transactions are made. To further enhance the convenience of the account holders, the DoP has launched ePassbook feature for the account holders of POSB schemes. ePassbook is a feature providing the following services through an online webpage -
Following is the workflow for the same in brief -
