Small Savings Instruments (SSIs)

  • Recently, the government raised the rates offered for most small savings instruments (SSIs) in the range of 40 basis points (bps) to 150 bps over the last five quarters.
  • The Small Savings Instruments (SSIs) are government-managed savings tools that aim to encourage regular saving, regardless of age.
  • They offer higher returns as compared to bank fixed deposits, along with a sovereign guarantee and certain tax benefits.
  • Interest rates on them are adjusted quarterly.
  • All amounts raised by it are pooled in the National Small Savings Fund, which is utilized by the government in order to address its fiscal deficit.
  • SSIs are divided into 3 ....
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