Interest Rates on Small Saving Schemes

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Interest Rates on Small Saving Schemes

Part of: GS Prelims and GS-III – Economy

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About Small Saving Schemes/Instruments

  • They are the major source of household savings in India and comprises 12 instruments.
  • The depositors get an assured interest on their money.
  • Collections from all small savings instruments are credited to the National Small Savings Fund (NSSF).
  • Small savings have emerged as a key source of financing the government deficit.

Small savings instruments can be classified as

  • Postal Deposits comprising savings account, recurring deposits, time deposits of varying maturities and monthly income scheme.
  • Savings Certificates: National Small Savings Certificate (NSC) and Kisan Vikas Patra (KVP).
  • Social Security Schemes: Sukanya Samriddhi Scheme, Public Provident Fund (PPF) and Senior Citizens‘ Savings Scheme (SCSS).



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