Which Post Office Scheme Attracts Highest Rate of Interest
Sukanya Samriddhi Account
Sukanya Samriddhi Accounts is an Indian post Office Scheme. This Scheme is especially for Girl. Interest rate on this Scheme is 9.20% which is effected from 1st April 2015. (tax Deduction u/s 80C; Interest Income Tax-Exempt; Investment Limit Rs.3 lakh for 2 Girl Children). Here is some similar scheme of Indian Post Office also, PPF, Senior Citizens Scheme. To make these scheme more attractive, the interest rate for sukanya samriddhi Yojana has been increased to 9.2% from 9.1% and Senior Citizens Saving Scheme, the rate has been hiked to 9.3% from 9.2% earlier.
Sukanya Samriddhi Scheme was no doubt launched as best & highest interest small deposit scheme. Personally I feel the interest rate should not be reduced such a way at least for this scheme, as this account is linked with a social purpose. Rather than just providing another investment options.