Sukanya Samriddhi, Kisan Vikas Patra, 15-year PPF, National Savings Certificate, other small savings schemes to pay these returns in Q3 FY25
Small Savings Scheme Interest Rates: The central government on Monday announced a status quo on interest rates applicable to small savings schemes. Currently, commercial banks and post office provide a variety of small savings scheme instruments including Post Office Savings Account, the 1-5-year Time Deposit (fixed deposit), the 5-year Post Office Recurring Deposit, Senior Citizens Savings Scheme, and Sukanya Samriddhi Yojana (SSY).
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Latest Interest Rates for Small Savings Schemes: The central government announced its decision to maintain the existing interest rates for small savings schemes, providing stability for investors. These new interest rates will be applicable for the fiscal third quarter, starting from October 1 and ending on March 31. These schemes—offered through commercial banks and post offices—comprise a range of instruments tailored to diverse financial goals and demographics, including Post Office Savings Accounts, 1-5-year Time Deposits (fixed deposits), 5-year Post Office Recurring Deposits, Senior Citizens Savings Schemes, and Sukanya Samriddhi Yojana (SSY).
| Instrument | Rate of interest (for Q2 FY25 as well as Q3 FY25) | Compounding Frequency |
| Post Office Savings Account | 4 | Annually |
| 1 Year Time Deposit | 6.9 (Annual Interest Rs 708 for Rs 10,000) | Quarterly |
| 2 Year Time Deposit | 7.0 (Annual Interest Rs 719 for Rs 10,000) | Quarterly |
| 3 Year Time Deposit | 7.1 (Annual Interest Rs 719 for Rs 10,000) | Quarterly |
| 5 Year Time Deposit | 7.5 (Annual Interest Rs 771 for Rs 10,000) | Quarterly |
| 5 Year Recurring Deposit Scheme | 6.7 | Quarterly |
| Senior Citizen Savings Scheme | 8.2 (Quarterly Interest Rs 205 for Rs 10,000) | Quarterly and Paid |
| Monthly Income Account | 7.4 (Monthly Interest Rs 62 for Rs 10,000) | Monthly and paid |
| National Savings Certificate (VIII Issue) | 7.7 (Maturity Value Rs 14,490 for Rs 10,000) | Annually |
| Public Provident Fund Scheme | 7.1 | Annually |
| Kisan Vikas Patra | 7.5 (will mature in 115 months) | Annually |
| Mahila Samman Savings Certificate | 7.5 (Maturity Value Rs 11,602 for Rs 10,000) | Quarterly |
| Sukanya Samriddhi Account Scheme | 8.2 | Annually |
| Source: indiapost.gov.in | ||
The interest rates given above are for Q2 FY25, which will be applied for the next quarter as well.
Currently, the Centre reviews the interest rates applicable to small savings schemes on a quarterly basis, announcing any revisions at the end of each quarter.
Representational image | Image credit: Pexels
Small savings schemes remain an attractive option for risk-averse investors, offering competitive interest rates and government-backed guarantees.
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