The Post Office offers a range of government-backed savings and investment options known as Post Office Saving Schemes. These schemes provide individuals a secure and reliable way to save money and earn returns. This blog will provide a post office interest rate applicable for 01.01.2024 to 31.03.2024.
The post office interest rates applicable to various Post Office Schemes are as follows:
| Sr. No. | Post Office Saving Scheme | Rate of Interest (w.e.f 01.10.2023 to 31.12.2023) | Compounding Frequency |
|---|---|---|---|
| 1 | Post Office Savings Account | 4.0% | Annually |
| 2 | 1 Year Time Deposit | 6.9% (Annual Interest ₹708 for ₹10,000/-) | Quarterly |
| 3 | 2 Year Time Deposit | 7.0% (Annual Interest ₹719 for ₹10,000/-) | Quarterly |
| 4 | 3 Year Time Deposit | 7.0% (Annual Interest ₹719 for ₹10,000/-) | Quarterly |
| 5 | 5 Year Time Deposit | 7.5% (Annual Interest ₹771 for ₹10,000/-) | Quarterly |
| 6 | 5 Year Recurring Deposit Scheme | 6.7% | Quarterly |
| 7 | Senior Citizen Savings Scheme | 8.2% (Quarterly Interest ₹205 for ₹10,000/-) | Quarterly and Paid |
| 8 | Monthly Income Account | 7.4% (Monthly Interest ₹62 for ₹10,000/-) | Monthly and paid |
| 9 | National Savings Certificate (VIII Issue) | 7.7% (Maturity Value ₹14,490 for ₹10,000/-) | Annually |
| 10 | Public Provident Fund Scheme | 7.1% | Annually |
| 11 | Kisan Vikas Patra | 7.5% (will mature in 115 months) | Annually |
| 12 | Mahila Samman Savings Certificate | 7.5% (Maturity Value ₹11,602 for ₹10,000/-) | Quarterly |
| 13 | Sukanya Samriddhi Account Scheme | 8.2% | Annually |
Please note that interest rates on Post Office Saving Schemes are subject to quarterly revisions. Therefore, the above rates only apply for the period 01.01.2024 to 31.03.2024.