Government-Backed Savings Schemes in India

Published research

Start with the exact product and its reviewed terms.

Every profile keeps its bank relationship, conditions, cautions, verification date and first-party evidence separate.

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5of 5 profiles shown

Bank of BarodaGovernment savings scheme

e-Kisan Vikas Patra (e-KVP) — Bank of Baroda

A Government of India small-savings certificate sold through Bank of Baroda, currently at a contractual 7.50% rate for new purchases with a 115-month maturity and no maximum investment ceiling.

First-party checked3 bank sourcesReviewed September 10, 2026

Balance ruleMinimum ₹1,000 and then ₹100 multiples; no maximum investment limit under the reviewed scheme page.

Best fitResident investors wanting a government-backed fixed-at-purchase return with no statutory maximum investment and who can accept the 2-year-6-month normal lock before premature closure.

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Bank of BarodaGovernment savings scheme

Floating Rate Savings Bonds 2020 (Taxable) — Bank of Baroda service route

A seven-year Government of India taxable floating-rate bond serviced through authorized receiving offices, with a semiannual coupon reset at the prevailing NSC rate plus 35 basis points.

First-party checked4 bank sourcesReviewed September 10, 2026

Balance ruleMinimum ₹1,000 in ₹1,000 multiples; no maximum subscription limit. Each investment has a seven-year maturity from its subscription date.

Best fitResident investors seeking government-credit exposure and semiannual income who can accept taxable interest, a floating coupon and very limited early redemption.

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Bank of BarodaGovernment savings scheme

Public Provident Fund (PPF) — Bank of Baroda service route

A Government of India long-term provident-fund account serviced by Bank of Baroda, with a current 7.10% annual rate, ₹500 minimum yearly contribution, ₹1.5 lakh annual contribution ceiling and a 15-year base term.

First-party checked3 bank sourcesReviewed September 10, 2026

Balance ruleMinimum ₹500 in a financial year and maximum ₹1.5 lakh in a financial year, in permitted multiples. Initial tenure is 15 years with extension available in five-year blocks under current rules.

Best fitResident individuals seeking long-horizon government-backed compounding and tax-exempt PPF interest/maturity value who can accept contribution caps and rule-based access rather than FD-style redemption.

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Bank of BarodaGovernment savings scheme

Senior Citizens' Savings Scheme (SCSS) — Bank of Baroda service route

A Government of India five-year senior-savings scheme serviced by Bank of Baroda, with the current 8.20% opening-quarter rate, quarterly income, a ₹30 lakh aggregate ceiling and age-specific premature-closure rules.

First-party checked4 bank sourcesReviewed September 10, 2026

Balance ruleMinimum ₹1,000 in ₹1,000 multiples; aggregate deposits across SCSS accounts are capped at ₹30 lakh. Normal maturity is five years, with extension available under current scheme rules.

Best fitEligible senior citizens and qualifying retirees who want government-set quarterly income and can accept SCSS eligibility and liquidity restrictions instead of ordinary bank-FD flexibility.

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Bank of BarodaGovernment savings scheme

Sukanya Samriddhi Account — Bank of Baroda service route

A Government of India girl-child savings account serviced by Bank of Baroda, currently earning 8.20%, with ₹250 minimum annual contribution, ₹1.5 lakh annual ceiling, 15-year contribution window and 21-year maturity.

First-party checked3 bank sourcesReviewed September 10, 2026

Balance ruleOpen with at least ₹250; at least ₹250 must be contributed in a financial year to keep the account regular, with a ₹1.5 lakh annual maximum. Deposits are made for 15 years and the account matures 21 years from opening under current rules.

Best fitParents or eligible guardians saving specifically for a resident girl child’s long-term education/marriage goals where the beneficiary rules and long horizon fit the family’s needs.

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How to compare

Check the terms that can change the decision.

Category membership alone does not make products interchangeable. Recheck the bank's current controlling agreement, tariff or effective-rate table before acting.

Government sets the economics

The servicing bank does not set SCSS, PPF, Sukanya, KVP or FRSB economics. Use the current Government notification or RBI formula as the controlling rate source.

Rate mechanics are different

SCSS and KVP can lock the rate for a newly opened/purchased contract, PPF and Sukanya use government-reviewed account rates, and FRSB resets every six months from NSC + 35 bps.

Eligibility before yield

SCSS is age/retirement restricted, Sukanya is beneficiary restricted, PPF has resident/account-holder rules, and FRSB/KVP have their own holder restrictions. A higher rate is irrelevant if the investor cannot legally use the scheme.

Liquidity is scheme-specific

Compare normal maturity, extension, premature-close windows, senior-age redemption, education withdrawal, loan access and collateral separately. Government backing does not mean immediate liquidity.

Tax deduction and tax-free interest are separate

Current Section 123 / Schedule XV treatment applies only to specified qualifying contributions and eligible regimes. PPF/Sukanya tax treatment differs from taxable SCSS/FRSB interest, while KVP principal is not modeled as a qualifying deduction.

Service route is not product ownership

A bank or post office can service a government scheme without creating a different proprietary rate. One canonical scheme profile can use a verified bank service route while keeping the government rule source visible.

Formula-derived coupons are labeled

Where FRSB uses NSC + 35 bps, the engine may calculate the current coupon from the published formula and current NSC rate, but labels that number as derived rather than pretending a bank published a new standalone rate.

Servicing-bank matrix

One canonical scheme, multiple verified access routes.

We count a bank/channel only when a current first-party page, form or digital-service document supports it. A service route never changes the Government-set economics.

4 verified service routes

Senior Citizens' Savings Scheme (SCSS) — Bank of Baroda service route

Branch and digital availability are kept separate from scheme eligibility and rate rules.

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5 verified service routes · 5 with digital evidence

Public Provident Fund (PPF) — Bank of Baroda service route

Branch and digital availability are kept separate from scheme eligibility and rate rules.

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4 verified service routes · 3 with digital evidence

Sukanya Samriddhi Account — Bank of Baroda service route

Includes a live first-party channel conflict that is exposed rather than silently resolved.

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1 verified service route · 1 with digital evidence

e-Kisan Vikas Patra (e-KVP) — Bank of Baroda

Branch and digital availability are kept separate from scheme eligibility and rate rules.

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3 verified service routes · 1 with digital evidence

Floating Rate Savings Bonds 2020 (Taxable) — Bank of Baroda service route

Branch and digital availability are kept separate from scheme eligibility and rate rules.

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Quarterly Government rate history

Maintained comparisons

Head-to-head research where the trade-off is meaningful.

Pairs are curated rather than generated automatically. Each product retains its own conditions, dates and evidence.

Bank of BarodaSenior Citizens' Savings Scheme (SCSS) — Bank of Baroda service routeBank of Barodae-Kisan Vikas Patra (e-KVP) — Bank of BarodaOpen comparison