New interest rates for all post office savings schemes from October to December 2019 announced by the government, check that Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Saving Scheme (SCSS), Recurring Deposit (RD ), Term / Fixed Deposit (TD), National Savings Certificate (NSC) & Monthly Income Scheme (MIS).
Central Government. Has released the interest rates of post office savings schemes from 1 October to 31 December 2019. The interest rates of all small savings schemes have remained unchanged for this quarter. Checking of new interest rates for Time Deposit (TD), Public Provident Fund (PPF), Sukanya Samriddhi Account, Senior Citizen Savings Scheme (SCSS), Recurring Deposit (RD), National Savings Letter (NSC, Kisan Vikas Patra (KVP) Do), Monthly Income Scheme (MIS), PO Savings Account Schemes.
People can check the new post office interest rates table 2019 which shows the current interest rate for various post office schemes applicable for the period from 1 October 2019 to 31 December 2019. The interest rates of all popular savings schemes operated by the post office are revised on a quarterly basis.
In a recent notification by the Ministry of Finance, the interest rate on all post office savings schemes is the same. Accordingly, people can now check the new interest rates for all post office savings schemes.
Post Office Interest Rates Table (October to December 2023)
Here is the complete table showing the current interest rate for the Post Office Savings Scheme implemented from 1 October 2019 to 31 December 2019. Apart from this, this table will also compare the interest rate of the current post offices of the previous quarter: –
| Post Office Savings Scheme Name | Interest Rate for 1 January to 31 March 2019 | Rate of Interest for 1 April to 30 June 2019 | Interest Rate for 1 July to 30 September 2019 | Interest Rate for 1 October to 31 December 2019 | Compounding Frequency |
|---|---|---|---|---|---|
| Savings Deposit Scheme Account | 4.0 | 4.0 | 4.0 | 4.0 | Annually |
| 1 Year Time Deposit | 7.0 | 7.0 | 6.9 | 6.9 | Quarterly |
| 2 Year Time Deposit | 7.0 | 7.0 | 6.9 | 6.9 | Quarterly |
| 3 Year Time Deposit | 7.0 | 7.0 | 6.9 | 6.9 | Quarterly |
| 5 Year Time Deposit | 7.8 | 7.8 | 7.7 | 7.7 | Quarterly |
| Recurring Deposit (5 years) | 7.3 | 7.3 | 7.2 | 7.2 | Quarterly |
| Senior Citizen Savings Scheme (5 years) | 8.7 | 8.7 | 8.6 | 8.6 | Quarterly & Paid |
| Monthly Income Scheme Account (5 years) | 7.7 | 7.7 | 7.6 | 7.6 | Monthly & Paid |
| National Savings Certificate (5 years) | 8.0 | 8.0 | 7.9 | 7.9 | Annually |
| Public Provident Fund Scheme | 8.0 | 8.0 | 7.9 | 7.9 | Annually |
| Kisan Vikas Patra | 7.7 | 7.7 (Maturity at 112 months) | 7.6 (Maturity at 113 months) | 7.6 | Annually |
| Sukanya Samriddhi Account Scheme | 8.5 | 8.5 | 8.4 | 8.4 | Annually |
In this post office interest rates table 2019, it is quite clear that the rate of interest for all post office savings schemes has been kept unchanged. Interest rates on PPF remain at 7.9%, KVP 7.6%, Sukanya Samriddhi account 8.4%, NSC 7.9%, MIS 7.6%, SCSS 8.6%, RD% 7.2% and savings deposits still at 4%.
The decision is good news for small depositors and senior citizens as banks have been reducing their fixed deposit (FD) interest rate since the beginning of the financial year as the Reserve Bank of India (RBI) is lowering its key policy rates . To get more information about post office savings schemes, visit the official website indiapost.gov.in
People can compare all the post office savings schemes before investing in these devices run by the government. Despite the low interest rates of post office savings schemes, these instruments are still attractive to investors who want to invest in safer products.