Interest Rates On PPF, Other Small Savings Schemes Unchanged In March Quarter

The interest rates applicable to nine schemes - including Monthly Income Scheme (MIS) and Kisan Vikas Patra certificates - are revised every quarter.

Interest Rates On PPF, Other Small Savings Schemes Unchanged In March Quarter

Currently, the interest rates applicable to small savings schemes are reviewed every quarter

The government on Tuesday kept the interest rates applicable to small savings schemes unchanged at existing levels for the quarter ending March 31. Currently, the government offers nine types of small saving schemes, including the 15-year Public Provident Fund (PPF) and Senior Citizen Savings Scheme (SCSS). Currently, the Finance Ministry reviews the interest rates on the nine small savings schemes on a quarterly basis. (Also read: This Is The Minimum Investment You Need To Set Up A Post Office Account

Here are the interest rates applicable to small savings schemes such as PPF for the fourth quarter of the current financial year (January-March 2020):

Small Savings SchemeInterest RateMinimum Amount Required For Opening Account
Post Office Savings Account4%Rs 500
5-Year Post Office Recurring Deposit (RD) Account7.20%Rs 100 per month
Post Office Time Deposit (TD) Account - One Year6.90%Rs 1,000
Post Office Time Deposit Account (TD) - Two Years6.90%Rs 1,000
Post Office Time Deposit Account (TD) - Three Years6.90%Rs 1,000
Post Office Time Deposit Account (TD) - Five Years7.70%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 Account8.40%Rs 250
(Source: indiapost.gov.in)

Some of these post office saving schemes qualify for income tax benefits.

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