SB Order 08: No Change in Interest Rates for Small Savings Schemes for Q3 FY 2024-25 (POSB Schemes Interest Rates)
SB Order 08: No Change in Interest Rates for Small Savings Schemes for Q3 FY 2024-25 Official Announcement by the Department of Posts. Download SB Order No 08/2024 in PDF.
In an official communication (SB Order No. 08/2024), the Ministry of Communications, Department of Posts (Financial Services Division), has instructed all Head Circles and Regions to circulate the memorandum and display it prominently in all post offices for public awareness.
The order emphasizes that the unchanged interest rates will provide clarity and stability for individuals and families who invest in these schemes for their financial security.
Government of India Announces No Change in Interest Rates for Small Savings Schemes for Q3 FY 2024-25
New Delhi, 30 September 2024 – The Ministry of Finance, Department of Economic Affairs (Budget Division), has issued a memorandum confirming that the interest rates for various Small Savings Schemes will remain unchanged for the third quarter of the financial year 2024-25. The interest rates applicable from 1st October 2024 to 31st December 2024 will remain the same as those notified for the second quarter (1st July 2024 to 30th September 2024).
Here are the unchanged interest rates for Small Savings Schemes for the third quarter of FY 2024-25 (from 1st October 2024 to 31st December 2024):
- Public Provident Fund (PPF) – 7.1%
- National Savings Certificate (NSC) – 7.7%
- Kisan Vikas Patra (KVP) – 7.5% (matures in 115 months)
- Sukanya Samriddhi Yojana (SSY) – 8.0%
- Senior Citizens' Savings Scheme (SCSS) – 8.2%
- Monthly Income Scheme (MIS) – 7.4%
- 5-Year Post Office Recurring Deposit (RD) – 6.5%
- Post Office Time Deposit (TD) Schemes:
- 1-Year TD – 6.9%
- 2-Year TD – 6.9%
- 3-Year TD – 7.0%
- 5-Year TD – 7.5%
- Post Office Savings Account – 4.0%
- 5-Year Post Office Monthly Income Scheme (POMIS) – 7.4%
- 5-Year National Savings Certificate (NSC) – 7.7%
- 5-Year Senior Citizens' Savings Scheme (SCSS) – 8.2%
- 5-Year Post Office Term Deposit Account – 7.5%
These rates will remain unchanged until 31st December 2024.
