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Home Personal finance Investment

Interest Rates On Post Office Schemes From July-October 2016

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The government revises the interest rate on post office small savings scheme every quarter. Accordingly, the interest rates on various post office schemes for the period July-Oct 2016 would be as follows:

Interest rate
InstrumentRate of interest w.e.f. 01.04.2016 to 30.6.2016Rate of interest w.e.f. 01.07.2016 to 30.9.2016Compounding frequency
Savings Deposit4.04.0Annual
1 Year Deposit7.17.1Quarterly
2 Year Deposit7.27.2Quarterly
3 Year Deposit7.47.4Quarterly
5 Year Deposit7.97.9Quarterly
5 Year Recurring Deposit7.47.4Quarterly
5 Year Senior Citizens Savings Scheme8.68.6Quarterly and paid
5 year Monthly Income Account Scheme7.87.8Monthly and paid
5 Year National Savings Certificate8.18.1Annual
Public Provident Fund Scheme8.18.1Annual
Kisan Vikas Patra7.8 (will mature in 110 months)7.8 (will mature in 110 months)Annual
Sukanya Samriddhi Account Scheme8.68.6Annual

Earlier, interest rates were set for the full year, the government will now on set them every quarter, based on the previous 3-month yields on Government-Securities or G-Sec. Investors with risk appetite can reshuffle their investments considering their risk appetite, age, financial goals, also tax implications.

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Story first published: Tuesday, June 21, 2016, 11:14 [IST]
See More On: post office, small savings scheme, ppf, kvp

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