The interest rates for the Post Office Savings Bank's Small Saving Scheme are as follows, effective from April 1, 2024 (first quarter of the financial year 2024-25), and will remain unchanged for the second quarter of the financial year 2024-25, from July 1, 2024 to September 30, 2024.
|
Small Savings Scheme in Post Office |
Rate Of Interest |
Maturity Period |
TDS on Investment |
Is Interest Taxable? |
|
Post Office Savings Account - POSA |
4.0% |
Not Applicable |
No |
Yes |
|
Post Office Recurring Deposit - PORD |
6.7% |
5 Years |
No |
Yes |
|
Post Office Monthly Income Scheme -MIS |
7.4% |
5 Years |
No |
Yes |
|
Post Office Time Deposit (1 year)-1TD |
6.9% |
1 Year |
No |
Yes |
|
Post Office Time Deposit (2 year)-2TD |
7% |
2 Years |
No |
Yes |
|
Post Office Time Deposit (3 year)-3TD |
7.1% |
3 Years |
No |
Yes |
|
Post Office Time Deposit (5 year)-5TD |
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 |
No |
No |
|
Sukanya Samriddhi Yojana - SSA |
8.2% |
21 Years |
No |
No |
|
National Savings Certificate -NSC |
7.7% |
5 Years |
Yes |
Yes |
|
Senior Citizens Savings Scheme -SCSS |
8.2% |
5 Years |
Yes |
Yes |
The above mentioned rate of interest is subject to be revised every quarter (every three months) by the Ministry of Finance.
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