We Design Your Financial Destiny


(Precious) Words of Wisdom : "Beware of little expenses. A small leak will sink a great ship." ~ Benjamin Franklin

Latest Post Office Small Savings Schemes Interest Rates

The Department of Economic Affairs, Ministry of Finance has announced the latest interest rates on the Post Office Small Savings Schemes for the period April to June 2019.

This was notified vide its Office Memorandum 'Revision of interest rates for Small Savings Schemes' dated Mar 29, 2019.

As per the same, "On the basis of the decision of the Government, interest rates for small saving schemes are notified on quarterly basis since 1st April 2016. Accordingly, the rates of interest on various small savings schemes for the first quarter of financial year 2019-20 starting 1st April 2019 and ending on June 30th, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19."

In short, the Govt. has maintained the same rates as the previous quarter.

Here are the current Apr-Jun 2019 interest rates on various Post Office Small Savings Schemes:

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

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

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

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

Time Deposits
1-year Deposit : 7.0% p.a.
2-year Deposit : 7.0% p.a.
3-year Deposit : 7.0% p.a.
5-year Deposit : 7.8% p.a.
(All on quarterly compounding basis)

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

Kisan Vikas Patra : 7.7% p.a. [compounded annually] 
(The scheme will double your money in 9 years and 4 months)

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

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


Note:
The above interest rates apply only to the "new accounts" opened during the said quarter — except PPF and Sukanya Samriddhi Scheme, where the current rate is applied on the outstanding account balance.

For the existing accounts under all other schemes, the contracted interest rate remains unchanged until maturity.

An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

You Learn A Lot By READING... And Even More By SHARING.

Share Button

Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

Subscribe via Email
Powered by Blogger.

... Three VALUABLE Tips ...

1. How Rs.1 Lakh Became Rs.1 Crore In Mutual Fund Scheme
Reliance Growth Fund
Stay invested through all the rough and tough times.

 


2. In Mutual Funds You DON'T Have To Book Profits
Profit Booking
STOP the (wrong) practice of profit booking in mutual funds.

 


3. Twist In Credit Card Interest Calculations You Must Know
Credit Card Interest Calculation
Calculating Finance Charge on your Credit Card is LOT SIMPLER than this.