PPF to NSC, this state contributes highest to small savings schemes in India at a whopping Rs 90,000 crore

New Delhi, Apr 2 (PTI) West Bengal accounts for the highest collection of about Rs 90,000 crore from small savings schemes such as Public Provident Fund (PPF) and NSC among the states and union territories, which is about 15 per cent of the total corpus.
It is followed by Uttar Pradesh, the largest state in terms of population, with gross collection of Rs 69,660.70 crore out of the Rs 5.96 lakh crore garnered during 2017-18 (last updated), as per data collated by the National Savings Institute under the finance ministry.

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As per the National Savings Institute data, West Bengal has been leader in collections for the small savings schemes and the collection hovered around 12-15 per cent in the last few years.

Assam garnered Rs 9,446.37 crore, Kerala Rs 14,763.01 crore, Puducherry Rs 1,082.40 crore and Tamil Nadu Rs 28,598.18 crore during 2017-18.

Small Savings Schemes interest rates - See complete details below: 
Instruments                      Interest rate Apr-Jun       Compounding Frequency     
Savings Deposit                                4%                                         Annually
1 yr time deposit                                5.5%                                     Quarterly 
2 yr time deposit                                5.5%                                     Quarterly 
3 yr time deposit                                5.5%                                     Quarterly 
5 yr time deposit                                6.7%                                     Quarterly 
5 yr recurring deposit                         5.8%                                    Quarterly 
Senior Citizens Savings Scheme       7.4%                                    Quarterly and paid 
Monthly Income Account                    6.6%                                    Monthly and paid 
National Savings Certificate               6.8%                                    Annually 
Public Provident Fund                         7.1%                                   Annually 
Kisan Vikas Patra                                6.9%                                   Annually 
Sukanya Samriddhi Account                7.6%                                  Annually 

The story has been taken from a news agency