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Post office small savings schemes: TThe Senior Citizen Savings Scheme (SCSS) is one of the most popular small savings schemes backed by the government, which offers a higher rate of interest than most other savings schemes. It is considered to be a safe and secure investment option for senior citizens, which offers them a regular income stream in their golden years. Watch Business Today’s Visual Story to know more details about the Senior Citizen Savings Scheme.

After a series of repo rate hikes by the RBI since May 2022, the transmission to retail deposit rates gathered pace in the second half of the last fiscal after remaining subdued in April-September period

Government also raised interest rates on small savings schemes such as NSC, SSY and post office deposits by up to 70 bps

Here's the comparison of the current fixed deposit (FD) interest rates offered by three lenders ICICI Bank, PNB, HDFC Bank and on deposits below Rs 2 crore

In light of the current interest rate environment, investors can benefit from higher rates while reducing risks related to market swings by investing in a variety of debt products.