Small Savings Schemes (SSS) in Details


In India, Small Savings Schemes (SSS) play an integral role as they are a crucial way of savings in India's households. Small Savings Schemes are contrived in such a way that give safe yet very pleasing options for investment to the people of the content and keep in mind that they need to move the funds and resources towards betterment and development of the country. Small Savings Schemes come under the Central Government, and everything takes place via a network of post offices, all the public, along with a few private sector banks and agents of small savings.

There are many Small Saving Schemes Such as Senior Citizens Savings Fund, Sukanya Samridhi Yojana, and PPF. These schemes are helping the social securities of various divisions.

A Higher rate of interest is also provided under these schemes compared to the status given under other financial tools set up by India's Government.

The Small Savings Schemes work via a chain of post offices about 1.54 lakhs in number, spread all across India. 

Apart from working via post offices, The Public Provident Fund Scheme (PPF) works via 8000 branches of the banks that come under the public sector.

Various other schemes are made explicitly for the Retiring Employees, these schemes are Deposit Schemes for, and they work via selective branches of public sector banks, exclusively.

Different Schemes under Small Savings Schemes

Post Office Deposits

  • Post Office Savings Account
  • Post Office Time Deposits (1,2,3 and 5 years)
  • Post Office Recurring Deposits
  • Post Office Monthly Account

Savings Certificates

National Savings Certificate (VIII Issue) 

 Kisan Vikas Patra

Social Security Schemes

  •  Public Provident Fund
  • Senior Citizens Savings Scheme
  •  Sukanya Samriddhi Account.

National Small Savings Fund (NSSF)

  • National Small Savings Fund (NSSF) took birth in the year 1999 in the Public Account of India, intending to combine all of the money collected from various Small Savings Schemes.
  • All of the money collected by all the Small Savings Schemes directly goes into the National Small Savings Fund (NSSF).
  • Any money that is withdrawn from the Small Savings Schemes depositors is also taken out of National Small Savings Fund. 
  • The money that is credited in the account of the National Small Savings Fund is further utilized by the Central and the State Government with the motive of financing their Fiscal Deficit.
  • The money that is then leftover is used, and investments are made in the State and the Central Government's Securities.
  • Calculated for the Public Accounts of the country and The Government of India plays the role of a Banker Of Trustee for The money collected under Small Savings Schemes is treated as a liability of the Union Government.
  • Due to the high rates of the Small Savings Schemes in comparison with other financial tools that are provided by the states, apart from the four countries, the Government Of India Has Excluded all the conditions From the use of the money collected by the Small Savings Schemes, in respect to the recommendations given by the Fourteenth Finance Commission of the country.
  • With interest and the principal amount being the Central Government's liability, the National Small Savings Funds will be utilized by the Central Government.

Official Website

Visit the official website to read more.

Frequently Asked Questions 

Q. Under what Small Savings Schemes does Work?

Small Savings Schemes work under the Central Government of India.

Q. Who acts as the banker of trustee of the money collected by the Small Savings Schemes?

The Government of India plays the role of the trustee's banker for the money collected by the Small Savings Schemes.

Q. The money collected under the Small Savings Schemes are treated as a liability for?

The money collected under the Small Savings Schemes is treated as a liability of the Union Government.