Central govt. has released Post Office Saving Schemes Interest Rates for 1 October to 31 December 2019. This interest rates of all small saving schemes has been kept unchanged 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.
People can check the new post office interest rates table 2019 which shows the current rate of interest for various post office schemes applicable for 1 October 2019 to 31 December 2019 duration. Interest rates of all popular savings scheme run by the Post Office are revised on a quarterly basis.
In the recent notification by Finance Ministry, interest rate on all Post Office Saving Schemes remains same. Accordingly, people can now check the new interest rates for all post office savings schemes.
Post Office Interest Rates Table (October to December 2019)
Here is the complete table showing the current rate of interest for post office savings scheme applicable from 1 October 2019 to 31 December 2019. Moreover, this table will also compare the current post offices rate of interest with the previous quarter:-
|Post Office Savings Scheme Name||Interest Rate for 1 January to 31 March 2019||Rate of Interest for 1 April to 30 June 2019||Interest Rate for 1 July to 30 September 2019||Interest Rate for 1 October to 31 December 2019||Compounding Frequency||Description about Post Office Scheme|
|Savings Deposit Scheme Account||4.0||4.0||4.0||4.0||Annually||Post Office Savings Bank Account (PO-SB) Details|
|1 Year Time Deposit||7.0||7.0||6.9||6.9||Quarterly||PO Fixed / Time Deposit Account (TD) Details|
|2 Year Time Deposit||7.0||7.0||6.9||6.9||Quarterly|
|3 Year Time Deposit||7.0||7.0||6.9||6.9||Quarterly|
|5 Year Time Deposit||7.8||7.8||7.7||7.7||Quarterly|
|Recurring Deposit (5 years)||7.3||7.3||7.2||7.2||Quarterly||PO Recurring Deposit Account (RD) Details|
|Senior Citizen Savings Scheme (5 years)||8.7||8.7||8.6||8.6||Quarterly & Paid||SCSS Account Details|
|Monthly Income Scheme Account (5 years)||7.7||7.7||7.6||7.6||Monthly & Paid||PO Monthly Income Scheme (MIS) Account Details|
|National Savings Certificate (5 years)||8.0||8.0||7.9||7.9||Annually||NSC Account Details|
|Public Provident Fund Scheme||8.0||8.0||7.9||7.9||Annually||PPF Account Details|
|Kisan Vikas Patra||7.7||7.7 (Maturity at 112 months)||7.6 (Maturity at 113 months)||7.6||Annually||KVP Account Details|
|Sukanya Samriddhi Account Scheme||8.5||8.5||8.4||8.4||Annually||SSA Account Details|
In this Post Office Interest Rates Table 2019, it is quite clear that the rate of interest for all post office saving schemes is kept unchanged. Interest Rates on PPF remains at 7.9%, KVP at 7.6%, Sukanya Samriddhi Account at 8.4%, NSC at 7.9%, MIS at 7.6%, SCSS at 8.6%, RD at 7.2% and Savings deposit still remains at 4%.
This decision is good news for small depositors and senior citizens as banks have been reducing their fixed deposits (FDs) interest rate since the start of the financial year as the Reserve Bank of India (RBI) has been reducing its key policy rates. To get more details on Post Office Savings Schemes, visit the official website indiapost.gov.in
People can compare all post office savings schemes before making investment in these instruments run by the government. Despite the low interest rates of Post Office Saving Schemes, these instruments are still attractive for investors who want to invest in safe products.