Post Office Small Savings Scheme: Check Latest Rate Of Interest Of All 13 Small Savings Scheme

New Delhi: The central government has recently announced its latest interest rates on all the Small Savings Schemes for the January-March quarter. While government raised the interest rates on Sukanya Samriddhi scheme by 20 basis points and three-year term deposit scheme by 10 basis points, it has retained rates for all other small savings schemes.

Check Rate Latest Rate Of Interest Of All 13 Small Savings Scheme applicable from 01 January 2024 to 31 March 2024

Sl.No.	Instruments	Rate of interest w.e.f 01.01.2024 to 31.03.2024	Compounding Frequency*
01.	Post Office Savings Account	4.0	Annually
02.	1 Year Time Deposit	6.9 (Annual Interest ₹708 for ₹10,000/-)	Quarterly
03.	2 Year Time Deposit	7.0 (Annual Interest ₹719 for ₹10,000/-)	Quarterly
04.	3 Year Time Deposit	7.1 (Annual Interest ₹719 for ₹10,000/-)	Quarterly
05.	5 Year Time Deposit	7.5 (Annual Interest ₹771 for ₹10,000/-)	Quarterly
06.	5 Year Recurring Deposit Scheme	6.7	Quarterly
07.	Senior Citizen Savings Scheme	8.2 (Quarterly Interest ₹205 for ₹10,000/-)	Quarterly and Paid
08.	Monthly Income Account	7.4 (Monthly Interest ₹62 for ₹10,000/-)	Monthly and paid
09.	National Savings Certificate (VIII Issue)	7.7 (Maturity Value ₹14,490 for ₹10,000/-)	Annually
10.	Public Provident Fund Scheme	7.1	Annually
11.	Kisan Vikas Patra	7.5 (will mature in 115 months)	Annually
12.	Mahila Samman Savings Certificate	7.5 (Maturity Value ₹11,602 for ₹10,000/-)	Quarterly
13.	Sukanya Samriddhi Account Scheme	8.2	Annually

The interest rate on small savings schemes, which is majorly operated by post offices, is notified by the government on quarterly basis.

Meanwhile, following the Reserve Bank's consequent rate hike in benchmark lending rate by 2.5 percent to 6.5 percent  since May 2022, banks have also raised the interest rates on deposits.