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 post office small savings schemes are revised on a quarterly basis. People can check the Post Office Savings Scheme Interest Rate Table 2024 to get knowledge on interest applicable b/w 1 April to 30 June 2024.
PO Small Savings Scheme Interest Rate Table [Jan-Mar 2024]
We are hereby mentioning the table which shows rate of interest for small savings scheme in Post Office for 1 April 2024 to 30 June 2024 time frame.| Savings Deposit | 4% |
| 1 Year Time Deposit | 6.9% |
| 2 Year Time Deposit | 7.0% |
| 3 Year Time Deposit | 7.1% |
| 5 Year Time Deposit | 7.5% |
| Five Year Recurring Deposit | 6.7% |
| Senior Citizen Savings Scheme | 8.2% |
| Monthly Income Scheme | 7.4% |
| National Savings Certificate | 7.7% |
| Public Provident Fund Scheme | 7.1% |
| Kisan Vikas Patra | 7.5% (115 months) |
| Sukanya Samriddhi Yojana Account | 8.2% |
Increase in Small Savings Scheme Interest Rate
The finance ministry has not raised interest rates on small savings schemes for the April-June 2024 quarter. The rates on the various instruments have not been increased this time due to implementation of Model Code of Conduct before Lok Sabha elections (general elections). Now same interest rates on small saving scheme would be given which ranges from 4.0% to 8.2%, as per the statement issued.
The small savings scheme interest rates, while set by the government, are linked to market yields on government securities at a spread of 0-100 basis points over the yield of these securities of comparable maturities. However, interest rates on small savings have not always tracked the movement in market rates.
Source/Reference link: https://www.indiapost.gov.in/vas/Pages/IndiaPostHome.aspx
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