Post Office Account Interest Rate: The Department of Posts offers nine different types of small savings schemes at designated post offices. These investment schemes - including the 15-Year Public Provident Fund account and the Senior Citizen Savings Scheme - offer interest rates to the tune of 4-8.6 per cent for the quarter ending March 31, according to a finance ministry statement. The interest rates applicable to these small savings schemes are reviewed by the government every quarter. For opening a post office account in any of these schemes, one requires a minimum investment in the range of Rs 250-Rs 1,000, according to the India Post website.
Investment in government-run small savings schemes today fetches the following returns for the quarter ending March 31:
|Small Savings Scheme||Interest Rate||Minimum Amount Required For Opening Account|
|Post Office Savings Account||4%||Rs 500|
|5-Year Post Office Recurring Deposit (RD) Account||7.20%||Rs 100 per month|
|Post Office Time Deposit (TD) Account - One Year||6.90%||Rs 1,000|
|Post Office Time Deposit Account (TD) - Two Years||6.90%||Rs 1,000|
|Post Office Time Deposit Account (TD) - Three Years||6.90%||Rs 1,000|
|Post Office Time Deposit Account (TD) - Five Years||7.70%||Rs 1,000|
|Post Office Monthly Income Scheme Account (MIS)||7.60%||Rs 1,000|
|Senior Citizen Savings Scheme (SCSS)||8.60%||Rs 1,000|
|15-Year Public Provident Fund Account (PPF)||7.90%||Rs 500|
|National Savings Certificates (NSC)||7.90%||Rs 1,000|
|Kisan Vikas Patra (KVP)||7.60%||Rs 1,000|
|Sukanya Samriddhi Account||8.40%||Rs 250|
The post office time deposit (fixed deposit) account is available in four maturity options, from one year to five years. While the time deposit account of one-, two- and three-year maturity periods currently offer interest at the rate of 6.9 per cent each, the five-year option provides a return of 7.7 per cent.
India Post - which comes under the ambit of Ministry of Communications - has a network of more than 1.5 lakh post office branches across the country.