Post office Investment schemes consist of several saving schemes providing higher interest rates, tax benefits and risk-free returns. Such post office investment plans are offered by India Post, across the country.
Let’s know all about the types of post office investment schemes in this post.
Post Office Investment Schemes (Savings Schemes)
There are 10 types of savings schemes or investment schemes offered by India Post, Department of Posts (Ministry of Communications). These are:
- Post Office Savings Account
- National Savings Recurring Deposit Account
- National Savings Time Deposit Account
- National Savings Monthly Income Account
- Senior Citizens Savings Scheme Account
- Public Provident Fund
- Sukanya Samriddhi Account
- National Savings Certificate
- Kisan Vikas Patra
- PM Cares for Children Scheme, 2021
These post office investment schemes provide different investment options to cater to the distinct needs of investors. Post Office Investment Schemes are highly reliable and offer a good interest rate to the public compared to the other market schemes.
Let’s know about these post office savings or investment schemes in details in the next section.
Types of Post Office Investment Plans in India
Let us know about some of the best Investment plans in the Post office-
1) Post Office Savings Account
- Minimum amount required for opening a post office savings account – Rs.500
- It is similar to your bank account; the only difference is that it is at a post office
- Can be opened individually or jointly, both
- Interest rate – 4% per annum

2) Post Office Recurring Deposit
- Interest rate: 5.8% per annum (compounded quarterly, paid annually)
- Minimum investment amount for Post Office RD: Rs 100
- Maximum investment amount: No limit
- Eligibility: Single adult, joint account, guardian and/or minor
- Multiple accounts can be opened
Please note that a minor can also open this account. Two adults can also open a joint Recurring deposit account.
3) Post Office Time Deposit
- Interest rate: 5.5%, 5.7%, 5.8% and 6.7% for 1, 2, 3 and 5 years, respectively
- Minimum investment amount for Post Office RD: Rs 1,000
- Maximum investment amount: No limit
- Eligibility: Single adult, joint account, guardian and/or minor
- Multiple accounts can be opened
- Premature closure of post office time deposit allowed at 2% less interest rate
4) Post Office Monthly Income Account
- Interest rate: 6.7% per annum
- Interest payable monthly
- Minimum investment amount: Rs 1,000
- Maximum investment amount: Rs 4.5 lakhs (single account) and Rs 9 lakhs (joint account)
- Multiple accounts cannot be opened
5) Post Office Senior Citizen Savings Scheme (SCSS)
- Interest rate: 7.6% per annum (compounded quarterly, paid annually)
- Minimum investment amount: Rs 1,000
- Maximum investment amount: Rs 15 lakhs
- Eligibility: Individual aged 60 years or more (please check India Post website for details)
- Multiple accounts cannot be opened
6) Post Office Public Provident Fund (PPF)
- Interest rate: 7.1% per annum (compounded annually)
- Minimum investment amount: Rs 500
- Maximum investment amount: Rs 1.5 lakhs in a financial year
- Eligibility: Single adult (resident Indian) or a guardian on behalf of a minor/person of unsound mind
- Multiple accounts cannot be opened
- Loan against PPF available after one year
7) Sukanya Samriddhi Accounts (SSA)
- Interest rate: 7.6% per annum (compounded & paid annually)
- Minimum investment amount: Rs 250 (no limit on number of deposits)
- Maximum investment amount: Rs 1.5 lakhs in a financial year
- Eligibility: By the guardian in the name of girl child below the age of 10 years
- Only two accounts for two girls can be opened by one family
8) National Savings Certificate (NSC)
- Interest rate: 6.8% per annum (compounded annually; paid at maturity after 5 years)
- Period: 5 years
- Minimum investment amount: Rs 1,000
- Maximum investment amount: No limit
- Eligibility: (i) a single adult
(ii) Joint Account (up to 3 adults)
(iii) a guardian on behalf of minor or on behalf of person of unsound mind
(iv) a minor above 10 years in his own name - Multiple accounts can be opened
- Premature closure only on: death of account holder(s), court order or forfeiture by a pledgee being a Gazetted officer
9) Kisan Vikas Patra (KVP)
- Interest rate: 7.0% per annum (compounded annually)
- Minimum investment amount: Rs 1,000 (in multiples of Rs 100 thereafter)
- Maximum investment amount: No limit
- Eligibility: (i) a single adult
(ii) Joint Account (up to 3 adults)
(iii) a guardian on behalf of minor or on behalf of person of unsound mind
(iv) a minor above 10 years in his own name - Multiple accounts can be opened
- Amount gets doubled in 123 months or 10 years and 3 months (as cited by the India Post official website)
Interest Rate of Different Post Office Savings Schemes in 2022-23
Here’s a list of different post office investment schemes’ interest rates-
List of Schemes | Interest Rate (p.a.) |
Public Provident Fund (PPF) | 7.1% |
Senior Citizen Savings Scheme | 7.6 % |
Sukanya Samriddhi Accounts | 7.6% |
Post Office Savings Account | 4.0% |
Kisan Vikas Patra | 7.0% |
Post Office Time Deposit Account | 1 year: 5.5% 2 years: 5.7% 3 years: 5.8% 5 years: 6.7% |
National Savings Certificate | 6.8 % |
Post Office Recurring Deposit Account | 5.8% |
Post Office Monthly Income Savings Account (MIS) | 6.7% |
Taxation of Post Office Investment Schemes (Savings)
Maximum of the post office investment schemes offers tax rebates under the Income Tax Act Section 80C. These rebates are given upon the principal amount that an investor deposits. Various schemes such as Sukanya Samriddhi Account, Public Provident Fund and Senior Citizen Savings Scheme also offer tax deductions over the interest amount.
Post Office Investment Schemes: FAQs
You get maximum interest in Post Office PPF at 7.1% while a senior citizen should invest in the Post Office Senior Citizens Savings Scheme which offers interest at 7.6%.
Alternatively, there are special schemes for the girl child (Sukanya Samridhhi Scheme) and farmers (Kisan Vikar Patra) as well.
Post office investment schemes offer a safe investment opportunity as they are government-backed and are immune to the changing marketing trends. The government decides the interest rates on these schemes and offers guaranteed returns. It is worth it for a risk-averse investor.
Sukanya Samriddhi Account is the most profitable Post Office Investment Scheme offering 7.6% interestc compounded yearly. Please note that this is only for girl child. Another option is PPF (7.1%) and Senior Citizens Savings Scheme (7.6%).
Kisan Vikas Patra (7%) offers the opportunity to double your money in 123 months or 10 years and 3 months. Minimum investment amount is Rs 1,000 with no higher limits.
You can deposit Rs. 10 Lakh in the different post office investment schemes such as National Savings Certificate, Time Deposit or Kisan Vikas Patra as there is no upper limit.
Yes, all the investments are safe because the Government of India backs them, and the good thing is all the Post Office Investment Schemes offer tax exemption up to a certain extent.