New Delhi, June 17 -- Soon after the Reserve Bank of India (RBI) cut its repo rate by 50 basis points, most banks have followed suit by cutting interest rates on their fixed deposits (FDs). Now most banks offer anywhere between 6.25 to 6.5 percent per annum on their term deposits.

This is enough to prompt investors to look beyondfixed deposit for safe investment options. Another alternative for investors is to invest insmall savings schemes. These are also known as post office savings schemes.

I.National Savings Recurring Deposit Account: This offers 6.7 percent per annum with a minimum Rs.100 contribution. The scheme gets maturity five years from the date of opening.

II.National Savings Time Deposit Account: This scheme offers 6.9 per...