7 schemes offering 7.5% or higher interest rates: SCSS, NSC, RBI floating rate bond

Many investors with a low-risk appetite or seeking a stable income look for an investment where they can generate a high interest income after investing a lump sum amount. For such investors, there are some popular schemes which are offering an interest rate of 7.5% and above? Here is a list of seven of such schemes.

The Senior Citizens Savings Scheme provides senior citizens a chance to earn a regular income for a long term. The interest rate for the SCSS is 8.20% per annum.

The minimum deposit in the scheme is Rs 1,000 and in the multiple of 1,000, while the maximum limit is Rs 30 lakh in all SCSS accounts opened by an individual.

Investors looking for high interest rates may also consider fixed deposits. Some banks are now offering up to 8.60% interest rate on the 5-year FDs.

However, bank fixed deposit interest rate varies from bank to bank, FD amount and the investor category. Also, senior citizens get higher FD interest rates over regular citizens.