7 post office schemes with highest returns; key details every investor should know

Investing in post office schemes remains a popular choice for many due to their reliability and attractive returns. Here’s a comprehensive look at the top 7 schemes currently offering the highest returns, along with their interest rates, investment limits, eligibility criteria, and other essential details.

1. Senior Citizen Savings Scheme (SCSS) - 8.2%

Interest Rate and Periodicity:
The SCSS offers an interest rate of 8.2% per annum, payable quarterly from the date of deposit to specific dates (31st March, 30th June, 30th September, and 31st December).

Eligibility:

• Individuals aged 60 years and above. Retired civilian employees aged 55 to 60 years (within one month of retirement).
• Retired defense employees aged 50 to 60 years (within one month of retirement).
• Accounts can be opened individually or jointly with a spouse.

Investment Limits:

• Minimum deposit: Rs. 1,000; Maximum: Rs. 30 lakh (in multiples of Rs. 1,000).
• Investments qualify for deductions under Section 80C of the Income Tax Act, 1961.

Features:

• Premature closure allowed with penalties.
• Account can be extended after maturity.
• Interest taxable if exceeds Rs. 50,000 annually.

2. Sukanya Samriddhi Account (SSA) - 8.2%

Interest Rate and Periodicity:
Fixed rate of 8.2% per annum, compounded yearly.

Eligibility:

• Girl children below 10 years, with an account opened by a guardian.
• Maximum of two accounts per family (more for twins/triplets).

Investment Limits:

• Minimum deposit: Rs. 250 annually; Maximum: Rs. 1.5 lakh per financial year.
• Contributions eligible for Section 80C benefits.

Features:

• Partial withdrawals allowed after the child turns 18 or completes 10th grade.
• Account matures after 21 years from opening or at marriage, whichever is earlier.

3. National Savings Certificates (NSC) - 7.7%

Interest Rate and Periodicity:
Interest rate of 7.7% per annum, compounded annually and payable at maturity.

Eligibility:
- Open to individuals, minors (above 10 years), and joint holders (up to 3 adults).

Investment Limits:

• Minimum deposit: Rs. 1,000; No maximum limit.
•  Investments qualify for Section 80C deductions.

Features

• Fixed maturity period of 5 years.
• Transferable and can be pledged as security.

4. Fixed Deposit (FD) - 7.5%

Interest Rate and Periodicity: 
Annual interest payout, calculated quarterly.

Eligibility:
Available to individuals, minors (above 10 years), and joint holders (up to 3 adults).

Investment Limits:

• Minimum deposit: Rs. 1,000; No maximum limit.
• Various terms available (1, 2, 3, and 5 years).

Features:

• Interest credited annually to linked savings account.
• Flexible premature closure options with applicable penalties.

5. Kisan Vikas Patra (KVP) - 7.5%

Interest Rate and Periodicity
Interest rate of 7.5% compounded annually; doubles investment in approximately 9 years and 7 months.

Eligibility:
Open to individuals, minors (above 10 years), and joint holders (up to 3 adults).

Investment Limits:
Minimum deposit: Rs. 1,000; No maximum limit.

Features:

• Can be pledged or transferred as security.
• Premature closure allowed after 2 years and 6 months.

6. Mahila Samman Savings Certificate - 7.5%

Interest Rate and Periodicity:
Interest rate of 7.5% per annum, compounded quarterly.

Eligibility:
For women or guardians of minor girls.

Investment Limits:
- Minimum deposit: Rs. 1,000; Maximum: Rs. 2 lakh.

Features

• Partial withdrawals after 1 year; premature closure possible under specified conditions.
• Maturity after 2 years.

7. Post Office Monthly Income Scheme (MIS) - 7.4%

Interest Rate and Periodicity: 
Interest rate of 7.4% per annum, payable monthly.

Eligibility:
Available to individuals, minors (above 10 years), and joint holders (up to 3 adults).

Investment Limits:
Minimum deposit: Rs. 1,000; Maximum: Rs. 9 lakh (single account), Rs. 15 lakh (joint account).

Features:

• Monthly interest payments; premature closure allowed with penalties.
• Maturity after 5 years; interest taxable.

These post office schemes offer competitive returns with varying features to cater to different investment needs and goals. Before investing, it's advisable to carefully review the terms and conditions to align with your financial objectives and risk tolerance.