Small savings scheme
Market basicsGovernment-backed savings products such as PPF, SSY, SCSS and post office deposits.
In plain terms
SSY and PPF are tax-free; most of the rest are taxed at your slab. That gap beats any rate comparison.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Post Office Monthly Income Scheme
Market basicsAlso called: POMIS
A five-year small savings scheme paying interest monthly, capped at ₹9 lakh single or ₹15 lakh joint.
In plain terms
The monthly cheque that complements SCSS's quarterly payout, so a household budget can actually run on it.