📊 Post Office Savings Schemes

🏛 Public Provident Fund (PPF)

PPF is one of the most popular long-term savings schemes in India, offering tax-free returns under the EEE (Exempt-Exempt-Exempt) category.

📋 Scheme Details

⭐ Key Features

• ✓EEE — Deposit, Interest & Maturity all tax-free
• ✓Deduction up to ₹1.5L u/s 80C
• ✓Monthly ₹1,000×15yr = ₹3,15,568
• ✓Yearly ₹10,000×15yr = ₹2,71,214
• ✓Extendable by 5 years blocks after maturity
• ✓Cannot be attached by court orders
• ✓Only one account per person

Eligibility

• Any Indian citizen can open a PPF account
• Minor account allowed (below 18, operated by guardian)
• One account per person
• NRI not eligible

🌱 Sukanya Samriddhi Yojana (SSY)

A government-backed savings scheme for the girl child, offering the highest interest rate among small savings schemes.

📋 Scheme Details

⭐ Key Features

• ✓Highest rate in all Post Office schemes — 8.2% p.a.
• ✓Monthly ₹1,000 × 15 yrs → ₹5,54,612 at maturity
• ✓Triple tax-free (EEE) — deposit, interest & maturity all exempt
• ✓80C deduction up to ₹1.5 lakh per year
• ✓50% balance withdrawal allowed when girl turns 18 years for education purposes
• ✓Deposits only for 15 years; interest continues for 6 more years
• ✓Max 2 accounts per family — one per girl child only
• ✓₹250–₹1,50,000 per financial year; ₹50 penalty for each year if the minimum deposit is missed.

Eligibility

• Girl child below 10 years of age at the time of opening
• Maximum 2 accounts per family (exceptions for twins/triplets)
• Guardian opens and operates the account

📜 National Savings Certificate (NSC)

A safe, government-backed fixed-income investment with tax benefits under Section 80C.

📋 Scheme Details

⭐ Key Features

• ✓Deduction u/s 80C up to ₹1.5 lakh
• ✓Accrued interest also qualifies for 80C
• ✓Can be used as collateral for bank loans
• ✓No TDS on maturity

🌾 Kisan Vikas Patra (KVP)

A savings certificate that doubles your investment over its tenure — ideal for long-term goal planning.

📋 Scheme Details

⭐ Key Features

• ✓₹1,00,000 → ₹2,00,000 in 9yr 7mo
• ✓No maximum investment limit
• ✓Transferable between post offices
• ✓Can be pledged as loan collateral
• ✓KYC required above ₹50,000
• ✓Available in single/joint account mode

💸 Monthly Income Scheme (MIS)

A scheme that provides guaranteed monthly income — perfect for retirees and those seeking regular cash flow.

📋 Scheme Details

⭐ Key Features

• ✓₹1,00,000 → ₹617/month
• ✓Principal returned in full at 5 years
• ✓Interest auto-credited to linked SB a/c
• ✓Multiple accounts within max limit
• ✓₹1,00,000 → ₹1,37,000 including 5-year monthly income
• ✓Auto-Credit: MIS interest can be credited to a linked Post Office SB account and used to pay an RD instalment automatically through a standing instruction.

📅 Recurring Deposit (RD)

Build savings systematically with small monthly deposits and earn interest compounded quarterly.

📋 Scheme Details

⭐ Key Features

• ✓₹100×60mo = ₹7,137
• ✓Up to 5+1 defaults allowed during the account term
• ✓Extendable up to 10 years with/without deposits
• ✓Advance-paid RD accounts cannot be closed prematurely until the prepaid period ends
• ✓Advance Payment Benefit: Get a ₹10 rebate for 6–11 months or ₹40 for 12 months per ₹100 monthly deposit.
• ✓RD Due Date: Opened 1st–15th: instalment can be paid up to the 15th of next month; opened 16th–month-end: can be paid up to the end of next month. Later payment counts as a default.
• ✓₹1,000 RD: 1–5 defaults cost ₹10, ₹30, ₹60, ₹100 and ₹150. Clear all dues with the current instalment to continue the account.
• ✓RD Auto-Pay: Link a Post Office SB account to pay the RD instalment automatically on the 15th each month. Maintain sufficient balance to avoid default.

🔒 Post Office Time Deposit (TD / FD)

Flexible fixed deposit options with tenures from 1 to 5 years. The 5-Year TD qualifies for Section 80C tax benefit.

📋 Scheme Details

⭐ Key Features

• ✓5-Year TD eligible for Sec 80C deduction
• ✓₹1L × 5yr = ₹1,38,570 ✓ | ×3yr = ₹1,21,873 ✓
• ✓Interest compounded quarterly — grows faster
• ✓5-Year TD: Premature closure allowed only after 4 years
• ✓1 TD, 2 TD, 3 TD: Premature closure after 6 months
• ✓Auto-renewal option available

✓ Calculator matched: ₹1,00,000×1yr=₹1,07,081 | ×2yr=₹1,14,372 | ×3yr=₹1,21,873 | ×5yr=₹1,38,570

👴 Senior Citizens Savings Scheme (SCSS)

A high-interest savings scheme exclusively for senior citizens, offering quarterly interest payouts.

📋 Scheme Details

⭐ Key Features

• ✓₹1,00,000 → ₹2,050/quarter
• ✓Can be extended by 3 years after maturity
• ✓Defence retirees eligible from age 50
• ✓₹1,00,000 → ₹1,41,000 including 5-year interest payouts
• ✓Premature closure allowed
• ✓TDS Alert: If SCSS interest exceeds ₹1 lakh in a financial year, submit Form 121 to avoid TDS—only if your estimated tax liability is nil.

🏦 Savings Bank Account (SB)

A basic savings account with liquidity, ATM card access, and deposit insurance up to ₹5 lakh.

📋 Scheme Details

⭐ Key Features

• ✓Available at all post offices in India
• ✓SB account can be linked with IPPB to operate online
• ✓Passbook + ATM/Debit card facility
• ✓Cheque book and net banking facility also available
• ✓No lock-in — withdraw anytime
• ✓Joint account allowed (up to 3)
• ✓Nomination facility available
• ✓The IFSC code for Post Office Savings Bank accounts is IPOS0000DOP (blue-coloured characters are zeros) for NEFT/RTGS transactions.

Note: Interest = P × 4% × years. Calculated on minimum balance between 10th and last day of each month.