Government-Backed Schemes with Higher Returns Than Bank FDs

Public Provident Fund (PPF)
- Interest: ~7.1% p.a. (current rate)
- Highlights: 15‑year lock‑in, tax-free interest, and Section 80C deduction; sovereign-backed.
National Savings Certificate (NSC)
- Interest: 7.7% p.a.
- Highlights: 5-year lock-in, compounding, eligible for 80C deductions, can be pledged as loan collateral.
Senior Citizen Savings Scheme (SCSS)
- Interest: 8.2% p.a.
- Highlights: 5-year tenure (extendable), quarterly interest payouts, open to those aged 60+ (or early retirees).
Sukanya Samriddhi Yojana (SSY)
- Interest: ~8.2% p.a.
- Highlights: For girl-child education/savings, lock-in until age 21, excellent returns, tax benefits.
Kisan Vikas Patra (KVP)
- Interest: 7.5% p.a. (doubles your money in ~124 months)
- Highlights: 124-month maturity, no max limit, can be held in individual or joint names.
Post Office Time Deposit & Monthly Income Scheme (POMIS)
- Time Deposit: up to 7.5% for 5-year option
- POMIS: ~7.4% p.a., monthly payout, 5‑year lock-in

Scheme	Rate	Tenure	Tax Benefit
PPF	~7.1%	15 yrs	Yes
NSC	7.7%	5 yrs	Yes
SCSS	8.2%	5 yrs	No (but quarterly payouts)
SSY	~8.2%	Till age 21 (of girl)	Yes
KVP	7.5%	~10 yrs	No
Post Office TD	up to 7.5%	1‑5 yrs	5‑yr TD: Yes
POMIS	~7.4%	5 yrs	No

Most of these have lock-in periods (ranging from 5 to 15 years).
Eligibility differs—e.g., SCSS for seniors, SSY for girl children.
Tax status varies: PPF interest is tax-free, others are taxable but some qualify under 80C.
Liquidity constraints: KVP is non-liquid for 2.5 years; PPF only allows limited withdrawals after 7 years.