At the beginning of the financial year, the government of India has increased the rates for Post Office Monthly Income Scheme and Post Office Recurring Deposit schemes for the April-June quarter.
The revised rate for the Post Office Monthly Scheme account stands at 7.7%, and the Post Office Recurring Deposit is 6.2%, according to the new notification from the Department Of Economic Affairs, Ministry of Finance.
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Senior Citizens Savings Scheme, Sukanya Samriddhi Yojna, Kisan Vikas Patra, and Post Office Fixed Deposits have also seen a hike in their interest rates following this change. There has, however, been no change in Public Provident Fund or PPF interest rate.
Here's a look at the revised interest rates of Post Office Savings Schemes
| Savings Scheme | Rate Of Interest |
|---|---|
| Savings Account (SB) | 4% |
| Recurring Deposit (RD) | 6.20% |
| Monthly Income Scheme (MIS) | 7.40% |
| Time Deposits (TD) | 1 Year - 6.8% 2 Years - 6.9% 3 Years - 7.0% 5 Years - 7.5% |
| Sukanya Samriddhi Account (SSA) | 8.00% |
| Public Provident Fund (PPF) | 7.10% |
| Senior Citizens Savings Scheme (SCSS) | 8.20% |
| National Savings Certificate (NSC) | 7.70% |
| Kisan Vikas Patra (KVP) 115 months | 7.50% |
Also Read: How To Open A Post Office Savings Account?
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