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Latest Interest Rates On Post Office Saving Schemes: PPF Vs NSC Vs Recurring Deposit (RD)

The Department of Posts offers nine post office saving schemes that offer savings and income tax benefits to depositors.

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Latest Interest Rates On Post Office Saving Schemes: PPF Vs NSC Vs Recurring Deposit (RD)

Interest rates on many of these post office saving schemes are revised every quarter.

The Department of Posts offers nine post office saving schemes that offer savings and income tax benefits to depositors. Post Office Savings Account. 5-Year Post Office Recurring Deposit Account (RD), Post Office Time Deposit Account (TD), Post Office Monthly Income Scheme Account (MIS), Senior Citizen Savings Scheme (SCSS), 15-year Public Provident Fund Account (PPF), National Savings Certificates (NSC) are the nine investment schemes offered by India Post, the government-operated postal system of the country. Interest rates on many of these schemes are revised every quarter. (Also read: How to correct basic details on EPF account online)

Given below is a comparison on interest rates of these nine saving schemes according to the website of India Post (indiapost.gov.in):

Post Office Savings Account
This savings scheme offers 4 per cent interest per annum on individual / joint accounts.

(Also Read: Want To Earn A Regular Monthly Income? 5 Investment Options For You)

5-Year Post Office Recurring Deposit Account (RD)
From January 1, 2018, interest rates are Post Office RD accounts are as follows:
6.9 per cent per annum (quarterly compounded)
On maturity, a Rs 10 account fetches Rs 717.43. It can be continued for another five years on a year-to-year basis, said India Post.

(Also Read: How Your EPF Interest Rate Compares With That Of PPF, NSC, Senior Citizen Savings Scheme, Post Office Monthly Income Scheme)

Post Office Time Deposit Account (TD)
Interest on this scheme is payable annually but is calculated quarterly.
From January 1, 2018, interest rates are as follows:
 
​PeriodRate
1yr.A/c6.60%
2yr.A/c​6.7%
3yr.A/c6.90%
​​5yr.A/c7.40%

Post Office Monthly Income Scheme Account (MIS)
From January 1, 2018, interest rate payable is 7.3 per cent per annum, which is payable monthly, said India Post.

(Also Read: Provident Fund Deposits To Fetch Lower Interest Rate In 2017-18)

Senior Citizen Savings Scheme (SCSS)
From July 1, 2017, interest rate payable on this scheme is 8.3 per cent per annum
15-year Public Provident Fund Account (PPF)
From January 1, 2018, interest rate payable on this saving scheme is 7.6 per cent per annum (compounded yearly).

National Savings Certificates (NSC)
From January 1, 2018, interest rates are as follows:
A total of 7.6 per cent interest is compounded annually but is payable at maturity.
A Rs 100 investment grows to Rs 144.23 after five years, says India Post.

Kisan Vikas Patra (KVP)
From January 1, 2018, interest rates on this scheme are as follows:
7.3 per cent interest is compounded annually

The amount invested doubles in 118 months (9 years and 10 months)

Sukanya Samriddhi Accounts
The interest rate on this saving scheme is 8.1 per cent per annum (with effect from 1.1. 2018), calculated on a yearly basis and compounded yearly.

 

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