POSB Interest Rates from 01st October 2024 to 31st December 2024

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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.

 


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