Rs 1.54 lakh crore and counting: Why Indians still choose PPF, SSY, SCSS
Small savings schemes like the PPF and SSY remain highly popular among Indian investors due to their safety and competitive interest rates. Recent data shows a significant surge in collections, with inflows for the first four months of the fiscal year already exceeding previous records.
Why it matters
These schemes provide a critical source of non-market financing for the Indian government while offering a low-risk investment vehicle for the public.
Indians may be moving towards equity investments, but the good old small savings schemes continue to form an important part of their investment portfolio. Be it Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY) or Senior Citizens Savings Scheme (SCSS), they are still popular savings options, and fresh data supports this.Interest rates across small savings schemes currently range from 6.9% for one-year deposits to 8.2% for the Senior Citizens' Savings Scheme and Sukanya Samriddhi Yojana. The Public Provident Fund offers 7.1%, while the National Savings Certificate carries a 7.7% rate, making these schemes more attractive than other savings options.
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