Considering PPF, Post Office FDs, NSC? Compare With Bank FDs Before Investing
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Investors exploring fixed-income options have a range of choices beyond traditional fixed deposits. While fixed deposits are common, small savings schemes like Public Provident Fund (PPF), National Savings Certificates (NSC) and post office deposits offer government-backed fixed returns. Here's a comparison of interest rates between bank fixed deposits and small savings schemes.
Latest Interest Rates on Small Savings Schemes (October-December 2023):
Latest Interest Rates on Bank Fixed Deposits:
Small savings schemes, managed by the government, aim to encourage regular savings and fall into three categories: savings deposits, social security schemes and monthly income plans. Savings deposits include 1-3-year time deposits and 5-year recurring deposits, as well as certificates like NSC and Kisan Vikas Patra. Social security schemes encompass PPF, Sukanya Samriddhi Account and Senior Citizens Savings Scheme. Monthly income plans include the Monthly Income Account.