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National Savings Products



Interest payable/Periodicity

Denomination & investment limit

Salient features

(1) 5 Year National Savings Monthly Account

7.7 % p.a., payable monthly commencing from the date of deposit

In multiples of Rs. 100 subject to maximum of Rs. 4.5 lakh in single account and Rs. 9 lakh in joint account

Maturity period is 5 years.  Can be closed prematurely after 1 year.If the account is closed after 1 year but before the expiry of 3 years, 2 % of the deposit shall be deducted.If the account is closed after expiry of 3 years, 1 % of the deposit shall be deducted .



(2) 15 Year Public Provident Fund Account

8.0 % p.a. (compounded yearly)

Minimum Rs. 500, maximum Rs. 1 lakh in a financial year.   Deposits can be made in one lumpsum or in 12 installments

Deposits qualify for deduction from income tax under Section 80 C of IT Act.  Interest is completely tax free.  Withdrawal is permissible every year from 7th financial year.  Loan facility is available from 3rd financial year.  No attachment under any court decree or the other order.  Account matures on completion of 15 complete financial years from the end of the year in which the account was opened.  Account can be extended, after maturity, for any number of block period of 5 years with further deposits.  The account can be retained indefinitely without further deposit after maturity with prevailing rate of interest.  Account can be opened in post offices as well as branches of nationalized and private banks authorized to operate PPF account.


(3) National Savings Time Deposit Account

Interest payable annually but calculated quarterly

1 year– 6.9 %

2 year-7.0 %

3 year-7.2 %

5 year-7.8 %


Minimum Rs. 200 and in multiples thereof.  No maximum limit

Account may be opened by an individual.  2, 3 & 5 Year accounts can be closed after 6 months, with a discount of

1 % in payable interest rate.  If the account is closed after 6 months but before 1 year interest payable on POSB account will be paid.  Deposits in 5 Year TD account qualify for deduction under Section

80 C of IT Act


(4) 5 Year National Savings Recurring Deposit Account

The maturity value of Rs. 10 denomination account is Rs. 725.05can be continued for another 5 years on year-to-year basis

Minimum Rs. 10 per month or any amount in multiples of Rs. 5.  No maximum limit

One withdrawal upto 50 % of the balance after 1 year.Full maturity value allowed on RD account restricted to that of Rs. 50 denomination in case of death of depositor subject to fulfillment of certain conditions.  6 and 12 months advance deposits earn rebate.


(5) Post Office Savings Account

4 % p.a.

Minimum Rs. 50 Maximum – no limit

Cheque facility is available.  Interest earned upto Rs 10000 in a financial year is exempt from Income Tax under IT Act.


(6) National Savings Certificate VIII Issue

Interest @ 8.0 % compounded annually but payable at maturity.  Certificate matures after 5 years Rs. 100 grow to Rs. 144.23 in 5 years. Annual accrual of interest on investment of Rs. 100 is as under and in proportion

for other denominations

1st year-Rs.8.0

2nd year-Rs.8.64

3rd year-Rs.9.33

4th year-Rs.10.08

5th year-Rs.10.88

Minimum Rs.100

Maximum-no limit.

Available in   denominations of Rs. 100, 500,

1000, 5,000, & 10000

A single holder type certificate can be purchased by an adult for himself or on behalf of a minor.  Deposits qualify for deduction from income under Section 80 C of IT Act.  The interest accrued annually but deemed to be reinvested will also qualify for deduction under Section 80 C of IT Act.

(7) Kisan Vikas Patra

The maturity value of Rs 1000, 5000, 10000, 50000 denomination account doubles in 112 months

Minimum deposite Rs 1000 and no Maximum Limit.

Certificate can be encashed after 2½ years from the date of issue of certificate at the following rates.

After Amount Payable(Rupees)
2½ & less than 3 yrs 1176
3 & less than 3½ yrs 1215
3½ & less than 4 yrs


4 & less than 4½ yrs 1296
4½ & less than 5 yrs 1339
5 & less than 5½ yrs 1383
5½ & less than 6 yrs 1429
6 & less than 6½ yrs 1476
6 ½ & less than 7 yrs 1524
7 & less than 7½ yrs 1575
7 ½ & less than 8 yrs 1626
8 & less than 8½ yrs 1680
8½ & less than 9 yrs 1735
9 & before maturity of certificate 1793
On maturity of certificate


(8) Senior Citizen’s Savings Schemes

8.7% p.a. interest shall be payable from the date of deposit to 31st March / 30th June / 30th September / 31st December as the case may be and thereafter interest shall be payable on the last working day of the next quarter.

In multiples of Rs. 1000 and maximum Rs. 15 lakh

An individual who has attained the age of 60 years or above on the date of opening of account or an individual who has attained the age of 55 years or more and who has retired under VRS / SVRS, can open an account individually or jointly with his spouse.  Retired personnel of Defence services (excluding Civil Defence Employees) can subscribe to this scheme on attaining the age of 50 years subject to fulfillment of specified conditions.


* Rates of interest mentioned above or the maturity value is effective from 1st Oct 2018.

* Deposits in National Savings Schemes are fully exempt from Wealth Tax.

* Nomination and transfer of account / certificate from one place to another and from one deposit accepting agency to other are available





Post Office Time Deposit Rules


National Saving Scheme 1987

National Saving Scheme 1992

Kisan Vikas Patra

Sukanya Samriddhi Account
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Rate of Interest on Small Saving Schemes w.r.t. 01/10/2018 to 31/12/2018

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SUKANYA SAMRIDHHI ACCOUNT RULES 2016, Notification vide G.S.R. No. 323 dated 18 March 2016.

Discontinuation of physical pre-printed NSC and KVP certificates

  Discontinuation of NSC IX issue from 20/12/2015

Good News for Investors KISAN VIKAS PATRA - is re-introduced

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SUKANYA SAMRIDHHI ACCOUNT RULES 2016, Notification vide G.S.R. No. 323 dated 18 March 2016.

Discontinuation of physical pre-printed NSC and KVP certificates  

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