The government announced the
interest rate for Small Saving Schemes like Public Provident Fund (PPF), National
Savings Certificate (NSC), Senior Citizen Savings Scheme, Kisan Vikas Patra, Sukanya Samriddhi,
Recurring Deposit (RD) and Post Office Time
Deposit (POTD) for the period April 2019 to June 2019 (First Quarter
of FY 2019-2020).
What are the latest interest
rates for small saving schemes for April-June 2019? Which is the highest
interest rate on post office small saving schemes? In this post, let us take a
look at the changes applicable with effective from April 1, 2019.
Interest Rates Schedule for Post Office Small Saving Schemes
Earlier the interest rates for
post office small saving schemes used to be revised on yearly once. Currently,
the government revises the interest rates on post office small saving schemes on
a quarterly basis. The quarterly interest rates schedule for small saving
schemes given in the table below.
S.
No.
|
Interest Rates would be
effective for the quarter
|
Date on which it will be
notified
|
1
|
First Quarter (April to
June)
|
15th March
|
2
|
Second Quarter (July to
September)
|
15th June
|
3
|
Third Quarter (October to
December)
|
15th September
|
4
|
Fourth Quarter (December
to March)
|
15th December
|
The government revised the interest rates
for post office small saving schemes for the first quarter of FY 2019-2020 starting
from April 1, 2019 and ending on June 30, 2019.
Interest Rates for Small Saving Schemes for the period April to June 2019
This time, the government has kept interest
rates of post office small saving schemes unchanged for the first quarter of
the financial year 2019-2020. This means that the interest rates of post office
small saving schemes will continue to be same as notified for the fourth
quarter of the financial year 2018-2019.
Interest Rates of Small Saving Schemes for April to June 2019
1. The Senior Citizens Saving Scheme will
fetch highest interest rate of 8.7% p.a.
2. Sukanya Samriddhi will also fetch an interest
rate of 8.5%.
3. The interest rate for National Savings Certificate is 8% p.a.
4. The interest rate for PPF is 8% p.a.
5. KVP will fetch an interest rate of
7.7% and mature in 112 months.
6. Post OfficeMonthly Income Account will offer an interest rate of 7.7% p.a.
7. The 5 years Recurring Deposit Account will fetch an interest rate of 7.3%.
8.
Post Office Time Deposits (POTD) of 1 to 5 years will now fetch an interest
rate of 7% to 7.8% p.a.
The
interest rate for Time Deposit of 1 Year is 7%
Time
Deposit of 2 Years is 7%
The
interest rate for Time Deposit of 3 Years is also 7%
The
interest rate for Time Deposit of 5 Years is 7.8%
9.
The Post Office Savings Account will offer an interest rate of 4%.
Interest Rates for Small Saving Schemes for April to June 2019
The
rate of Interest from 01/04/2019 to 30/06/2019
|
The
rate of Interest from 01/01/2019 to 31/03/2019
|
Frequency
of Compounding
|
|
Post Office Savings
Account
|
4%
|
4%
|
Annually
|
Time Deposit 1 Year
|
7%
|
7%
|
Quarterly
|
Time Deposit 2 Years
|
7%
|
7%
|
Quarterly
|
Time Deposit 3 Years
|
7%
|
7%
|
Quarterly
|
Time Deposit 5 Years
|
7.8%
|
7.8%
|
Quarterly
|
Recurring Deposit 5 Years
|
7.3%
|
7.3%
|
Quarterly
|
Sukanya Samriddhi Account
|
8.5%
|
8.5%
|
Annually
|
Kisan Vikas Patra (KVP)
|
7.7%
|
7.7%
|
Annually
|
Public Provident Fund (PPF)
|
8%
|
8%
|
Annually
|
National Savings
Certificate (NSC) 5 Years
|
8%
|
8%
|
Annually
|
PO Monthly Income Account
|
7.7%
|
7.7%
|
Monthly
and paid
|
Senior Citizens Savings
Scheme
|
8.7%
|
8.7%
|
Quarterly
and paid
|
This time, the government has kept interest
rates for small saving schemes unchanged for the first quarter of the financial
year 2019-2020. The unchanged interest rates means that the interest rates for
post office small saving schemes will continue to be same as notified for the
fourth quarter of the financial year 2018-2019. This means that the post office
small saving schemes are still offering highest interest rates as compared to
other saving schemes. If you are a low-risk appetite investor then you can
consider investing in these small saving schemes.
Also read: Top 12 Best Mutual Funds to invest in 2019
Also read: What is Atal Pension Yojana (APY)?
If you liked this article, please share it with your friends and colleagues through social media. Your opinion matters, please share your comments.
Thank you for sharing this valuable and useful information.
ReplyDelete