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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

Instrument Rates of interest from 01.07.2024 to 30.09.2024 Rates of interest from 01.10.2024 to 31.12.2024
Savings Deposit 4.0 4.0
1 Year Time Deposit 6.9 6.9
2 Year Time Deposit 7.0 7.0
3 Year Time Deposit 7.0 7.1
5 Year Time Deposit 7.5 7.5
5 Year Recurring Deposit .6.7 6.7
Senior Citizen Savings Scheme 8.2 8.2
Monthly Income Account Scheme 7.4 7.4
National Savings Certificate 7.7 7.7
Public Provident Fund Scheme 7.1 7.1
Kisan Vikas Patra 7.5 (will mature in 115 months) 7.5 (will mature in 115 months)
Sukanya Samriddhi Account
Scheme
8.0 8.2

****

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 (1st July, 2024 to 30th September, 2024) of FY 2024-25.

2. This has the approval of the competent authority.

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

Also Read:

Period Interest rates of small saving schemes – Post Link
July-September, 2024 Revised Small Savings Schemes Interest Rates for July to September 2024
April -June, 2024 Revised Small Savings Schemes Interest Rates for April-June, 2024
January-March, 2024 Revised Small Savings Schemes Interest Rates for January-March, 2024
October 2023 to December 2023 Revised Small Savings Schemes Interest Rates for October-December 2023
July 2023 to September 2023 Revised Small Savings Schemes Interest Rates for July-September 2023
April 23 to June 23 Interest rates for Small Savings Schemes PPF NSC etc. increased
Jan 23 to Mar 23 Interest rates of small saving schemes for January 23 to March 23
Oct 22 to Dec 22 Interest rates of small saving schemes for October 22 to December 22
Jul 22 to Sep 22 Interest rates of small saving schemes for July 22 to September 22
Apr 22 to Jun 22 Interest rates of small saving schemes for April 22 to June 22
Jan 22 to Mar 22 Interest rates of small saving schemes for Jan 22 to Mar 22
Oct 21 to Dec 21 Interest Rate on Small Savings Schemes for Oct 21 to Dec 21
July 21 to Sep 21 Interest Rates for National (Small) Savings Schemes w.e.f. 01.07.2021

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