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Small Savings


The main role of ‘Small Savings’ Department is to create awareness among the people and encourage citizens to invest in Small Savings Scripts Schemes for their own benefit and benefit of the State.


The achievement of Small Savings Target in Chennai District has been entrusted to Commissioner, Greater Chennai Corporation. Under his control, one Deputy Director of Small Savings with other complementary staff working in Chennai Corporation to appoint SAS / MPKBY / PPF Agents in Chennai City and to achieve the Small Savings Target fixed by Government.


  • To bring awareness among the people and to invest in Small Savings Scrip.
  • Appointment of Standardised Agency System (SAS) / Mahila Pradhan Kshetriya Bachat Yojana (MPKBY ) / Public Provident Fund (PPF) Agent
  • Undertake promotional activities like street campaigns , Publicity through Print Media.
  • Redressal grievances of investors and agents and generate Employment to the unemployed youth and other sections of the Society.

Agents Commission :

The Agent gets commission from the Central Government on the Small Savings mobilized by them. The Commission is calculated on the fixed percentage as indicated below

Name of the Agency Name of the Schemes % of commission (Central Govt.)
SAS Agency One Year , Two Year, Three Year and Five Year Time Deposit (POTD) Kisan Vikas Patra (KVP) National Savings Certificate VIII Issue(NSC) Post Office Monthly Income Scheme (POMIS) Senior Citizen’s Savings Scheme 1.00   0.50
MPKBY Agency Post Office Recurring Deposit Scheme (PORD) 4.00
PPF Agency Public Provident Fund Scheme (PPF) 1.00

The Agent is also given incentives from the State Government as per the rates determined by the State Government from time to time.

Salient Features Of Small Savings Schemes:

Sl.No Name of the Scheme Benefits Limit of Investment Maturity Period
      Minimum Maximum  
1 Post Office Monthly Income Scheme (POMIS) 8 % 5% Bonus on maturity Rs.1500/- Single Account Rs.4.50 lakhs Joint Account Rs.9.00 lakhs 6 Years
2 Kisan Vikas Patra Double in 8 years 7 months, can be encashed after 2 1/2 Years Rs.100/- No limit 8 Years 7 months (Pre-maturity closure after 2 1/2 Years) to be opened in any Post Office
3 National Savings Certificate -VIII issue (NSC) 8 % Compound Interest I.T. Rebate U/S 80-C Rs.100/- No limit 6 Years ( Rs.100/- grows to Rs.160.10 on maturity) To be opened in any Post Office
4 15 Years Public Provident Fund 8 % Compound Interest I.T. Rebate U/S 80-C Rs.500/- Rs.70000/- per annum 15 Years . To be opened on HPO or SBI or Nationalised Banks
5 5 Year Post Office Recurring Deposit (PORD) Compound Interest Free insurance up to Rs.50/- Can be continued upto 10 Years Rs.10/- No limit Rs. 100/ deposits per month will be Rs.728.90 at the end of 5 years.
6 Post Office Time Deposit (POTD) One Year TD Two Year TD Three Year TD Five Year TD 6.25 % 6.50 % 7.25 % 7.50 % (I.T. Rebate U/S 80-C Rs.200/- Rs.200/- Rs.200/- Rs.200/- No limit No limit No limit No limit 1 Year 2 Years 3 Years 5 Years
7 Senior Citizen Savings Scheme 9 % Interest Interest Payable quarterly Nomination facility available I.T. Rebate U/S 80-C Rs.1000/- Rs.15 Lakhs 5 Years Can be opened in any Post Office doing Savings Bank Work / Al Public Sector Banks operating PPF Scheme
8 Post Office Savings Account (POSA) 3.5 % Single / Joint Account 3 % Public Account 2 % Other Accounts Rs.50/- Single Account Rs.1 Lakh Joint Account Rs.2 Lakhs Can be opened in any Post Office

Loan Against Collection:

The State Government receives soft loan assistance to the extent of 100 percent of the net collection made every month from the Centre. The loan amount is utilized for improvement and development projects of the State.

Contact Us:

For appointment and renewal of SAS / MPKBY/ PPF Agents and redressal of investors and Agents grievances , the Small Savings Wing of Greater Chennai Corporation may be contacted in person or over Phone No: 25384510 Ext. 340 or Deputy Director of Small Savings, Greater Chennai Corporation in Phone No.25384440.