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    Categories: Investment

New Interest Rates on Post Office Schemes: Table 2021

Through this post, we shall be updating you with the New Interest Rates on Post Office Schemes. The interest rates keep on getting revised every quarter. And, you might be keen on learning the latest interest rates on different Post office Savings schemes in India. So, we thought of sharing data related to present interest rates alongwith rates for the previous quarters as well.

This can help you know the recent changes in Post office interest rates. Therefore, you can make a comparison of fluctuations in the Post Office new interest rates and old interest rates.

So, don’t miss to checkout our Post Office Interest rates Comparison table as you read further.

In fact, we shall be adding new interest rates every time there’s any revision to it. So, keep visiting to grab useful information on Post Office Saving Schemes and interest thereon.

Post Office Saving Schemes:

Post Offices in India offer a set of popular investment schemes. You can choose the one based on your financial priorities.

Firstly, let’s know the various Post Office Saving Schemes offered in India:

  1. A Post Office Savings Account
  2. Post Office Time Deposits (TD)
  3. Post Office Recurring Deposit (RD)
  4. Public Provident Fund (PPF)
  5. Post Office National Savings Certificate (NSC)
  6. Post Office Kisan Vikas Patra (KVP)
  7. Post Office Monthly Income Scheme (MIS)
  8. Senior Citizen Savings Scheme (SCSS)
  9. Sukanya Samriddhi Yojana (SSY)

Now, that you know the different schemes provided by India Post offices, let’s go through the latest interest rates.

New Interest Rates on Post Office Schemes: Table 2020

The interest rates on Post office schemes for the first quarter of financial year 2019-20 i.e. 1st April to 30th June 2019 remain unchanged. This means, same rates apply as for the previous quarter of January to March 2019.

So, let’s begin with the new interest rates on post office schemes:

Post Office Savings SchemeInterest rate
1st Apr-30th June'20
Interest rate
1st Jan-31st March'20
Interest rate
1st Oct-31st Dec'19
Interest rate
1st Jul-30th Sep'19
Interest rate
1st Apr-30th Jun'19
Frequency of CompoundingTax deduction U/s 80C
Post Office Savings Account4%4%4%4%4%YearlyNo
Post Office Recurring Deposit Account (RD)5.8%7.2%7.2%7.2%7.3%QuarterlyNo
Post Office Monthly Income Scheme (MIS)6.6%7.6%7.6%7.2%7.3%Monthly and paidNo
Post Office Time Deposit - 1 year5.5%6.9%6.9%6.9%7%QuarterlyNo
Post Office Time Deposit - 2 years5.5%6.9%6.9%6.9%7%QuarterlyNo
Post Office Time Deposit - 3 years5.5%6.9%6.9%6.9%7%QuarterlyNo
Post Office Time Deposit - 5 years6.7%7.7%7.7%7.7%7.8%QuarterlyYes
Kisan Vikas Patra (KVP)6.9%7.6%7.6%7.6%7.7%YearlyNo
National Savings Certificate (NSC)6.8%7.9%7.9%7.9%8%YearlyYes
Public Provident Fund (PPF)7.1%7.9%7.9%7.9%8%YearlyYes
Sukanya Samriddhi Yojana (SSY)7.6%8.4%8.4%8.4%8.5%YearlyYes
Senior Citizens Savings Scheme (SCSS)7.4%8.6%8.6%8.6%8.7%Quarterly and paidYes

Here’s a picture showing additional information on How interest is compounded on these Post office saving schemes? Can you avail a tax deduction under Section 80C of The Income Tax Act, if you invest in these small saving schemes in India?

Post Office Interest Rates Table: 2018-19

Here’s a table showing the Post Office Interest Rates for the past few years:

Post Office Savings SchemeInterest rate
1st Apr-30th Jun'18
Interest rate
1st Jul-30th Sept'18
Interest rate
1st Oct-31st Dec'18
Interest rate
1st Jan-31st March'19
Tax deduction U/s 80C
Post Office Savings Account4%4%4%4%No
Post Office Recurring Account (RD)6.9%6.9%7.3%7.3%No
Post Office Monthly Income Scheme (MIS)7.3%7.3%7.3%7.3%No
Post Office Time Deposit - 1 year6.6%6.6%6.9%7%No
Post Office Time Deposit - 2 years6.7%6.7%7%7%No
Post Office Time Deposit - 3 years6.9%6.9%7.2%7%No
Post Office Time Deposit - 5 years7.4%7.4%7.8%7.8%Yes
Kisan Vikas Patra (KVP)7.3%7.3%7.7%7.7%No
National Savings Certificate (NSC)7.6%7.6%8%8%Yes
Public Provident Fund (PPF)7.6%7.6%8%8%Yes
Sukanya Samriddhi Yojana (SSY)8.1%8.1%8.5%8.5%Yes
Senior Citizens Savings Scheme (SCSS)8.3%8.3%8.7%8.7%Yes

Post Office Interest Rates: Important Points

1. Interest rates on these Post Office schemes are reviewed and fixed every quarter by the Government.

2. You can lock-in the interest rate in a quarter for the entire tenure of some of these Post office schemes only. These saving schemes include:

3. For Public Provident Fund(PPF) and Sukanya Samriddhi Yojana (SSY), the revised interest rates for every quarter shall be applicable. Therefore, the newer interest rates shall apply for different quarters.

Post Office Interest Rates: A Final Take

No doubt, these Post Office Saving Schemes provide a safer investment alternative to the risk averse investors. In addition to it, a decent fixed return is the main point of attraction towards such saving schemes.

Moreover, the tax benefit associated with many of these Post Office Schemes is definitely going to attract investors in future as well.

Therefore, looking at the market volatility and uncertain returns of other long term investment options in India, these Post Office Saving Schemes surely have advantage for the safe players.

What do you think? Do you like investing in Post Office Saving Schemes? If yes, which one do you prefer? Are you satisfied with the new interest rates being offered on these Post Office Schemes? Or do you wish to get still better returns on the Small Saving Schemes in India? Feel free to share your opinions on the same below or you may join our free investment discussion forum.

Harleen Kaur: A Chartered Accountant with 14+ years of experience in the Corporate world. A Finance & technology (a fintech) enthusiast, a passionate financial blogger, Founder @ Fintrakk.com and a Finance FAQ Portal. In short, a CA, a Bachelor of Commerce whose very foundation has been learning about finance. I am actively contributing towards the financial literacy goal through my business ventures and spreading awareness in the dynamic field of finance, investment, stock market, money savings, career and a lot more. Reading, learning & sharing interesting information, this is what I enjoy!! I have researched and written hundreds of blogs on Indian financial topics! Now, expanding my blogging horizon towards Personal Finance in Canada, and USA as well.
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