Central govt. has revised Post Office Savings Schemes Interest Rates for last quarter of 2023-24. New Post Office Interest Rates Table has now been released. The new interest rates on some post office schemes has been increased for this quarter. Check the new interest rates for Time Deposit (TD), Public Provident Fund (PPF), Sukanya Samriddhi account, Senior Citizen Savings Schemes (SCSS), Recurring Deposit (RD), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Monthly Income Scheme (MIS), PO Savings Deposit Account Schemes.
Interest rates of all popular savings scheme run by the Post Office are revised on a quarterly basis. People can check the Post Office Savings Schemes Interest Rate Table 2023-24 which shows the current rate of interest for various post office schemes applicable for 1 January 2024 to 31 March 2024 duration. Accordingly, people can now check the new interest rates for all post office savings schemes.
PO Saving Schemes Interest Rates Table
Here is the complete table showing the current rate of interest for post office savings scheme applicable from 1 January 2024 to 31 March 2024:-
| Small Savings Scheme | Interest Rate | Tenure | Tax Deduction on Investment? | Interest Taxable |
|---|---|---|---|---|
| Post Office Savings Account | 4.0% | NA | No | Yes |
| Post Office Recurring Deposit | 6.7% | 5 Years | No | Yes |
| Post Office Monthly Income Scheme | 7.4% | 5 Years | No | Yes |
| Post Office Time Deposit (1 year) | 6.9% | 1 Year | No | Yes |
| Post Office Time Deposit (2 year) | 7% | 2 Years | No | Yes |
| Post Office Time Deposit (3 year) | 7.1% | 3 Years | No | Yes |
| Post Office Time Deposit (5 year) | 7.5% | 5 Years | Yes | Yes |
| Kisan Vikas Patra (KVP) | 7.5% | 30 Months Lock-in period | No | Yes |
| Public Provident Fund (PPF) | 7.1% | 15 Years | Yes | No |
| Sukanya Samriddhi Yojana | 8.2% | 21 Years | Yes | No |
| National Savings Certificate | 7.7% | 5 Years | Yes | No |
| Senior Citizens Savings Scheme | 8.2% | 5 Years | Yes | Yes |
To get more details on Post Office Savings Schemes, visit the official website indiapost.gov.in. Despite the low interest rates of Post Office Saving Schemes, these instruments are still attractive for investors who want to invest in safe products.
Post Office Saving Schemes Interest Rate Hiked
In this Post Office Interest Rates Table 1 January 2024 to 31 March 2024, it is quite clear that the rate of interest for some post office saving schemes have been hiked. Interest Rates on PPF is 7.1%, KVP at 7.5% (maturity in 115 months), Sukanya Samriddhi Account at 8.2%, NSC at 7.7%, MIS at 7.4%, SCSS at 8.2%, RD at 6.7% and Savings deposit still remains at 4%. The decision for increased interest rates on post office savings scheme is taken to keep small investors money safe and secure which will come with some more profit.
Wants to know about MIS sccheme of PO.What is the minimum amount of deposit for a month.
5TH OCT 2018 APPROACHED POST OFFICE JIRAULI DHOOM SINGH-202281 FOR RS.10000 WORTH KCC OR NSC OR FD BUT NO BENEFIT AS POST OFFICE PERSON ASKED FOR 7 DAYS TO OPEN A/C.NO USE TO ME…? AT LAST ON THE SAME DAY DEPOSITED SAME AMMOUNT IN MY JAN DHAN YOJNA BANK A/C IN GRAMIN BANK OF ARYAVART JIRAULI DHOOM SINGH AND GOT FD ISSUED SAME DAY @ OF 7% INTEREST……. LOSS OF 1% … I WILL BARE because of services being rendered by POST OFFICE.THANKS TO POSTAL SERVICES. GYANENDRA 9758146831
Is there any incentive for senior citizens in time deposit schemes ie in F.D. in post office like in banks they give 0.5 % extra
Aakash Kumar
Hello to all
In this baffling continuously, I proclivity you all
Prize your family and friends
post office savings account interest was paid the minimum balance ina month from 10th to the last day of the month. I want to know whether it is changed as in banks daily basis.