Latest Interest Rates of Various Post Office Savings Schemes

Written By:
Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Post office savings schemes offer both savings and income tax benefits to depositors of various schemes. There are 9 post office schemes as of now and interest rates are revised once in every three months.

    The interest rates are revised in the following cycle:

    Sl No     Applicable Quarter  Date of Notification   
    1April to June15th March
    2July to September15th June
    3October to December15th September
    4January to March15th December

    Here are the new rates as per the notification released on 15th March, 2018.

    Post Office Savings Account

    The interest rate is 4.0% per annum on individual and joint accounts. A minimum of Rs 20/- is required for opening a post office savings account. The account can be opened by cash only.

    5-Year Post Office Recurring Deposit Account (RD)

    For the quarter April to June 2018, the interest rates applicable are:

    • 6.9% per annum (quarterly compounded)
    • On maturity Rs 10/- account fetches Rs 717.4 3 and can be continued for another 5 years on year to year basis.
    The minimum amount to be deposited every month is Rs 10. Deposits are to be made in the multiples of Rs 5 (for example, 15, 20, 25, etc)
    There is no maximum limit on the amount that can be deposited.


    Post Office Time Deposit Account (TD)

    The interest on the deposits are calculated quarterly (one every 3 months) but deposited in accounts once a year (annually).

    For the quarter April-June 2018, the interest rates applicable are:

         Period             Rate        
           1yr Account       6.60%
           2yr Account       6.70%
          3yr Account       6.90%
          5yr Account       7.40%

    Post Office Monthly Income Scheme Account (MIS)

    The interest rate applicable from April to June 2018 is 7.3 % per annum. This interest is paid to your account on a monthly basis.

    The minimum amount to open an MIS account is Rs 1,500.

    Senior Citizen Savings Scheme (SCSS)

    For the quarter April to June 2018, 8.3 % per annum interest rate is applicable. The interest will be paid on June 30th.

    The interest rates are paid on 31st March, 30th June, 30th Sept and 31st December in a year.

    15 year Public Provident Fund Account (PPF​)

    7.6% per annum is the interest rate applicable for April to June 2018. The minimum deposit to be made is Rs 500 and the maximum limit is Rs 1.5 lakhs per financial year.

    You can deposit the money in 12 monthly installments or in a lump sum.

    National Savings Certificates (NSC)

    From 1st of January 2018, interest rates are:

    • 7.6​​% which is compounded annually but payable at maturity.​
    • Rs 100/- grows to INR 144.23​ after 5 years
    The deposits made qualify for tax rebate under section 80C of the IT Act.


    Kisan Vikas Patra (KVP​)

    Interest rate from the 1st of January 2018  will be 7.3 % which will be compounded annually. Amount invested will double in 118 months (9 years & 10 months).

    The minimum amount to open the account is Rs 1,000 and later deposits need to be in multiples of 1,000.


    Sukanya Samriddhi Accounts

    The rate of interest is 8.1% per annum with effect from​ 1st January 2018 and is calculated on yearly basis. Its is compounded yearly.


    Read more about: post office savings scheme
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more