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PO Small Savings Schemes Interest Rates Jan-Mar'19

Except for a couple of changes, the Govt. has largely maintained the same interest rates on various Post Office Small Savings Schemes for the 4th quarter of the current financial year 2018-19.

This announcement was made by the Department of Economic Affairs, Ministry of Finance vide its Office Memorandum — Revision of interest rates for Small Savings Schemes — dated Dec 31, 2018.

As you may recollect, the Govt. had announced a rather steep increase — ranging from 0.3-0.4% — in the interest rates for the period Oct-Dec 2018.

Accordingly, the interest rates on various Post Office Small Savings Schemes for Quarter-4 2018-19 — i.e. Jan 1st to Mar 31st, 2019 — are detailed below:

Public Provident Fund (PPF) : Unchanged at 8.0% p.a. [compounded annually]

5-year National Saving Certificate (NSC) : Unchanged at 8.0% p.a. [compounded annually]

Monthly Income Scheme : Unchanged at 7.7% p.a. [monthly compounding and paid out]

Senior Citizens Savings Scheme : Unchanged at 8.7% p.a. [quarterly compounding and paid out]

Time Deposits
1-year Deposit : Up from 6.9% to 7.0% p.a.
2-year Deposit : Unchanged at 7.0% p.a.
3-year Deposit : Down from 7.2% to 7.0% p.a.
5-year Deposit : Unchanged at 7.8% p.a.
(All on quarterly compounding basis)


5-year Recurring Deposit : Unchanged at 7.3% p.a. [compounded quarterly]

Kisan Vikas Patra : Unchanged at 7.7% p.a. [compounded annually] 
(The scheme will double your money in 112 months)

Sukanya Samriddhi Scheme : Unchanged at 8.5% p.a. [compounded annually]

Savings Deposit : Unchanged at 4% p.a. [compounded annually]

As mentioned last time, due to the rate hike in the previous quarter, the recent favourite 7.75% Savings (Taxable) Bonds may lose some shine.

1. As per the present policy, interest rates on Post Office Small Savings Schemes are reset periodically on a quarterly basis.
2. The revised interest rates apply only to the "new accounts" opened during the respective period (except PPF and Sukanya Samriddhi Scheme, where the new rate is applied on the outstanding account balance). For the existing accounts under all other schemes, the contracted interest rate remains unchanged until maturity.

Meanwhile, interest rates for the first three quarters of the current financial year can be accessed as under:
- Interest Rates On Small Savings Schemes Unchanged For Apr-Jun 2018
- Small Savings Schemes Q2 FY18-19 Interest Rates Steady
- Sharp Hike In Q3 Interest Rates On Small Savings Schemes

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