Indian Post offers several Savings Schemes which are safe, ( earlier tax rebates, now are interest earned in these schemes are taxed under the income head of Income from Other Sources ) and relatively more interest rates than bank deposits.
These schemes are operated through about 1.54 lakh post offices throughout the country. Public Provident Fund Scheme is also operated through about 8000 branches of public sector banks in addition to the post offices. Deposit Schemes for Retiring Employees are operated through selected branches of public sector banks only.
