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Post Office Interest Rates Table 2023

Post Office Interest Rates Table 2021

Introduction

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The Indian post office offers various types of deposit plans for those looking to invest. These instruments are also known as PO small savings schemes. The unique selling proposition (USP) of this plan is their sovereign guarantee, i.e., they are backed by the government of India.
Some of these schemes such as NSC, SCSS, TD, etc. also offer tax-saving benefits u/s 80C of the Income-tax Act, 1961.
As per the RBI circular, the Public Provident Fund will continue to earn 7.10% and the Senior Citizen Savings Scheme will earn 8.20% as before. likewise, post office time deposits (TD) will continue to fetch between 6.8% and 7.5% depending on the tenure of deposits.
The interest rates on PO deposit schemes are scheduled to be next reviewed towards the end of December.
Let’s see about Post Office Interest Rates Table.

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Post Office Interest Rates Table

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Here is a look at the PO interest rates on various small savings schemes for the fourth quarter of the Fiscal Year.

Sl.No.InstrumentsRate of interest w.e.f 01.07.2023 to 30.09.2023Compounding Frequency*
01.Post Office Savings Account​​4.0Annually
02.1 Year Time Deposit6.9 (Annual Interest ₹708 for ₹10,000/-)Quarterly
03.2 Year Time Deposit​​7.0 (Annual Interest ₹719 for ₹10,000/-)Quarterly
04.3 Year Time Deposit​​7.0 (Annual Interest ₹719 for ₹10,000/-)Quarterly
05.5 Year Time Deposit7.5 (Annual Interest ₹771 for ₹10,000/-)Quarterly
06.5 Year Recurring Deposit Scheme​​6.5Quarterly
07.Senior Citizen Savings Scheme​​8.2 (Quarterly Interest ₹205 for ₹10,000/-)Quarterly and Paid
08.Monthly Income Account​​7.4 (Monthly Interest ₹62 for ₹10,000/-)Monthly and paid
09.National Savings Certificate (VIII Issue)7.7 (Maturity Value ₹14,490 for ₹10,000/-)Annually
10.Public Provident Fund Scheme​​7.1Annually
11.Kisan Vikas Patra​​7.5 (will mature in 115 months)Annually
12.Mahila Samman Savings Certificate​​7.5 (Maturity Value ₹11,602 for ₹10,000/-)Quarterly
13.Sukanya Samriddhi Account Scheme​​8.0Annually
  • The deposits made in an account shall earn interest at the rate, as may be notified by the Government of India, from time to time, in respect of the Savings Scheme concerned.
  • Interest shall be calculated in the manner provided in the PO Savings Scheme.
  • In an account that has matured but not closed, the eligible balance in the account shall continue to earn interest at the rate applicable to the PO Savings Account, till the closure of the account.
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