Revised Small Savings Schemes Interest Rates for October to December 2024

Government of India has revised the interest rates for Small Savings Schemes for the third quarter of FY 2024-25, applicable from 1st October 2024 to 31st December 2024. According to the notification, the interest rates remain unchanged from those of the previous quarter. For savings deposit accounts, the interest rate remains at 4.0%, while 1-year and 5-year time deposits offer 6.9% and 7.5%, respectively. The Senior Citizen Savings Scheme retains an 8.2% interest rate, and the Sukanya Samriddhi Account Scheme sees a slight increase to 8.2% from 8.0%. Kisan Vikas Patra will continue to offer a 7.5% return, with a maturity period of 115 months. Public Provident Fund continues at 7.1%, while the National Savings Certificate rate holds steady at 7.7%. This decision ensures continuity in returns for small savers, including senior citizens and investors in popular schemes like the Sukanya Samriddhi and PPF. The unchanged rates reflect the government’s commitment to providing stable investment options for individuals, even as external economic conditions evolve.

Revised Small Savings Schemes Interest Rate Table for October to December 2024

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SB Order No. 08 /2024

F. No 113-03/2024
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi — 110001
Dated: 30.09.2024

To

All Head of Circles/Regions

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.10.2024

Madam / Sir,

The undersigned is directed to intimate that, vide memorandum No. 1/4/2019-NS dated 30.09.2024 (copy enclosed), Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has informed that the rates of interest on various Small Savings Schemes (National Savings Schemes) for the third quarter of financial year 2024-25 (starting from 1st October, 2024 and ending on 31st December, 2024) shall remain unchanged from those notified for the second quarter (1st July, 2024 to 30th September, 2024) of FY 2024-25.

2. It is requested to circulate it to all concerned for information and necessary guidance. This may also be placed on the notice board of all Post Offices in public area.

3. This issues with the approval of the Competent Authority.

(P. Ajit Kumar)
Assistant Director (SB-I)

Copy to: –

1. Sr. PPS to Secretary (Posts)

2. PS to Director General Postal Services.

3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (0)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA

4. Addl. Director General, APS, New Delhi

5. Chief General Manager, BD Directorate / Parcel Directorate / PIA Directorate / CEPT

6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)

7. Director, RAKNPA / Directors of all PTCs

8. Director General P & T (Audit), Civil Lines, New Delhi

9. Secretary, Postal Services Board / All Deputy Directors General

10. All General Managers (Finance) / Directors Postal Accounts / DDAP

11. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.

12. The Joint Director & HOD, National Savings Institute, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002

13. All recognized Federations / Unions / Associations

14. Guard File/e-File.

(P. Ajit Kumar)
Assistant Director (SB-I)

F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi

Dated: 30.09.2024

OFFICE MEMORANDUM

Subject: Revision of interest rates for Small Savings Schemes – reg.

The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from October, 2024 and ending on 31′ December. 2024 shall remain unchanged From those notified for the second quarter (1^st July, 2024 to 30^th September, 2024) of FY 2024-25.

2. This has the approval of the competent authority.

(Vishnukanth P. B.)
Director ( Budget)
Tele- 01123092744

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