|Features||Post Office Monthly Income Scheme||Public Provident Fund||National Savings Certificate||Post Office Time Deposit||Senior Citizens Savings Scheme|
|Time period||5 years||15 years; extendable in blocks of 5 years||5 years||1,2, 3 and 5 years||5 years; 1 time extension of 3 years|
|Min Investment||Rs. 1500||Rs. 500 per year||Rs. 500||Rs. 200|
|Max Investment||Rs 4.5 lacs single or Rs. 9 lacs joint||Rs. 150,000 per year||No limit||No Limit||Rs. 15 lacs|
|Lock in||1 year||7 years, partial withdrawal allowed after 7 years||No lock in||1 year|
|Rate of Interest per year||7.8%||8.1% (From April 1, 2016)||8.1% for 5 years||1 year - 7.%1;|
2 years - 7.2%;
3 years - 7.4%;
5 years - 7.9%.
|Interest payment||Paid monthly||Accumulated at the end of year (paid on lowest monthly balance between 5th and 30th of month)||Compounded half yearly and accumulated and paid on maturity||Compounded quarterly||Payable quarterly|
|Tax||Interest is taxable||Interest not taxable||Interest is accrued, deemed to be in reinvested and hence eligible for tax benefit||Interest is taxable||Interest is taxable|
|Tax benefit||No benefit||Fully Exempt under section 80 C of IT Act, 1961||Under Section 80C of IT Act, 1961||Under Section 80C of IT Act, 1961||Under Section 80C of IT Act, 1961|
|Penalty for premature withdrawal||If closed between 1 and 3 years, 2% of deposit, else 1% of deposit||NA||Within 1 year, only face value paid, 1 to 3 years, simple interest, post 3, discounted value as per rules||1 to 2 years, 1.5% of deposit; after 2 years, 1% deposit; No penalty in case of death.|
|Eligibility||Only resident individuals can open accounts||Only resident individuals can open accounts||Only resident individuals can open accounts||Only resident individuals can open accounts||Only resident individuals above 60 years of age can open accounts except in some special cases|
|Other features||Demat, accepted as collateral; Transferable||Not transferable|
The interest paid on these small savings schemes can change from year to year. Please check with the respective provider on the current rate of interest payable.