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Interest on Post Office Small Savings Schemes for FY 2015-16

As you know, since last few years, interest rates on the various Post Office Small Savings Schemes have been linked to the yields prevailing on the Govt. Securities traded in the market.

Accordingly, the Government now notifies new rates every year in March (based on the market interest rates of the government securities of comparable maturity) and which become applicable for the coming financial year.

The rates for FY 2015-16 have been now announced. Except for a marginal increase in two schemes, they remain the same as last year for all other schemes.

PPF : Remains unchanged at 8.7%

5-year NSC : Remains unchanged at 8.5%
10-year NSC : Remains unchanged at 8.8%

Monthly Income Scheme : Remains unchanged at 8.4%

Senior Citizens Savings Scheme : Up 0.1% from 9.2% to 9.3%

1-year Time Deposit : Remains unchanged at 8.4%
2-year Time Deposit : Remains unchanged at 8.4%
3-year Time Deposit : Remains unchanged at 8.4%
5-year Time Deposit : Remains unchanged at 8.5%

5-year Recurring Deposit : Remains unchanged at 8.4%

Saving Deposit : No change at 4%

Kisan Vikas Patra : Unchanged at 8.7% (Discontinued in 2011, KVP made a comeback in Nov last year at 8.7%)

Sukanya Samriddhi Scheme : Up 0.1% from 9.1% to 9.2% (This is a new scheme that made its debut just a few months back in Dec 2014 at 9.1%)


Important
The revised rates apply only to the new accounts opened during the respective year (except PPF and Sukanya Samriddhi Scheme where the new rate is applied on the outstanding account balance). For the existing accounts, the contracted interest rate remains unchanged until maturity.

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