India Post Savings Schemes: Interest Rates and Maturity Values (Effective from 01 October 2024 to 31 December 2024)
India Post offers a range of secure and convenient savings schemes to cater to the financial needs of citizens across the country. The schemes come with attractive interest rates and flexible tenure options, making them a preferred choice for long-term investment. Below is a detailed overview of the available savings schemes and their current interest rates.
India Post Savings Schemes
Interest Rates
|
Scheme |
Interest Rate (%) |
Tenure |
|
Senior Citizen Savings Scheme (SCSS) |
8.2 |
5 Years |
|
Sukanya Samriddhi Yojana Account (SSA) |
8.2 |
21
Years |
|
National Savings Certificate (NSC) |
7.7 |
5 Years |
|
Kisan Vikas Patra (KVP) |
7.5 |
9 Years
7 Months |
|
5-Year Time Deposit (STD) |
7.5 |
5 Years |
|
Mahila Samman Savings Certificates (MSSC) |
7.5 |
2 Years |
|
Monthly Income Scheme (MIS) |
7.4 |
5 Years |
|
Public Provident Fund (PPF) |
7.1 |
15
Years |
|
3-Year Time Deposit (3TD) |
7.1 |
3 Years |
|
2-Year Time Deposit (2TD) |
7.0 |
2 Years |
|
1-Year Time Deposit (1TD) |
6.9 |
1 Year |
|
Recurring Deposit (RD) |
6.7 |
5 Years |
|
Savings Account (SB) |
4.0 |
- |
Maturity Values for Popular
Schemes
India Post Savings Schemes not only offer competitive interest rates but also provide good returns at maturity. Here are some maturity values for selected schemes:
- Recurring
Deposit (RD): For
a deposit of ₹6,000 (₹100 x 60), total maturity value after 5 years is
₹7,136.58. After extension, the maturity values are:
- 6
Years: ₹8,871.09
- 7
Years: ₹10,724.75
- 8
Years: ₹12,705.77
- 9
Years: ₹14,822.89
- 10
Years: ₹17,085.46
- 1-Year
Time Deposit (1TD): For a deposit of ₹1,00,000, yearly interest
is ₹7,080.60, bringing the total maturity amount to ₹1,07,081 after 1
year.
- 2-Year
Time Deposit (2TD): For a deposit of ₹1,00,000, yearly interest
is ₹7,185.90, totaling ₹1,14,372 after 2 years.
- 3-Year
Time Deposit (3TD): For a deposit of ₹1,00,000, yearly interest
is ₹7,291.29, totaling ₹1,21,873 after 3 years.
- 5-Year
Time Deposit (STD): For a deposit of ₹1,00,000, yearly interest
is ₹7,713.59, bringing the total to ₹1,38,568 after 5 years.
- Monthly
Income Scheme (MIS): For a deposit of ₹1,00,000, monthly interest
is ₹616.67, totaling ₹1,37,000 over 5 years.
- Senior
Citizen Savings Scheme (SCSS): For a deposit of ₹1,00,000, quarterly
interest is ₹2,050, bringing the total to ₹1,41,000 after 5 years.
- Kisan
Vikas Patra (KVP): A deposit of ₹1,00,000 doubles to ₹2,00,000
after 9 years and 7 months.
- Public
Provident Fund (PPF): Monthly deposit of ₹1,000 for 15 years (total
deposit ₹1,80,000) grows to ₹3,15,572 including ₹1,35,572 as interest.
- Sukanya
Samriddhi Yojana (SSA): Monthly deposit of ₹1,000 for 15 years (total
deposit ₹1,80,000) matures to ₹5,54,612 including ₹3,74,612 as interest
after 21 years.
