New Post Office Savings Schemes Interest Rate Table

Post Office Savings Scheme

Post office schemes have been a relied form of investment for decades now. Every household who has ever bothered with investment schemes has, at least once, either invested in post office schemes or has considered doing so. The Central government, in light of the popularity of post office saving schemes, has introduced some amendments to the schemes.

To begin with, the interest schemes have been revised and the interest rate table now stands to look different than what it has in the last couple of years.

It is noteworthy, however, that this amends in the interest rate would be only for the quarter October 1st, 2020 to December 31st 2020.

What are the Post office scheme that will receive the change in interest rates?

The following schemes will notice a difference in interest rates offered in the coming quarter.

  1. Time Deposit – TD
  2. Public Provident Fund – PPF
  3. Sukanya Samriddhi Certificate
  4. Senior Citizen Savings Schemes
  5. Recurring deposit – RD
  6. National Savings Certificate
  7. Kisan Vikas Patra
  8. Monthly Income scheme
Name of the schemeInterest rate from 1/10/2020 – 31/12/2020Compounding frequency
Time deposit – 1 year/2 year/3 year5.5%Quarterly
Time deposit – 5 year6.7%Quarterly
Recurring Deposit – 5 years6.7%Quarterly
Senior Citizen Savings Schemes  7.4%Quarterly
Monthly Income scheme6.6%Monthly and Paid
PPF7.1%Yearly
Kisan Vikas Patra6.9% (matures in 10 years and 4 months)Yearly
Sukanya Samriddhi Account scheme7.6%Yearly

In case you wish to receive more information about Post office schemes and revised rates, you can visit the official website: indiapost.gov.in

Why should investors be happy about these changes?

Times have been rough lately. With the pandemic causing global mayhem, markets have crashed far and wide. The Indian economy, which wasn’t doing all that well at the start of the year, to begin with, has plummeted leaving investors, businessmen and entrepreneurs flummoxed all across the nation.

With millions going out of jobs, the economy quite clearly is struggling and investors have been worrying about the money they have put in the market yet.

With the government releasing these amends in interest rates for Post office investors, a certain fraction of the investors can breathe easy now, as these rates are relatively higher than what even private banks and the economy is offering at the moment.

People who have always looked down on investments have relied on savings account interests all this while, however even those have plummeted in the last couple of months. A State Bank of India savings account would now earn you just 2.7% per annum.

Kotak Mahindra Bank, which has always prided on the high interest rates it has offered – which was 6% at one point – has now come down to offering just 3.5%.

Summing it up

Post office investing, at the moment, seems to be the right choice for investors beginning out. This will have dual effects: not only will the government offer you higher returns, but the money you as an investor put in will allow the economy to grow, and eventually the investment you put in will yield you much higher returns.

That’s one way of making the adversity work out for you!

Leave a Reply

Your email address will not be published. Required fields are marked *

Similar Yojanas

Order Aadhaar PVC Card Online – Now Aadhar Card in Your Wallet like ATM

View Details

National Food for Work Programme – NFFWP

View Details

Janaushadhi Suvidha Sanitary Napkins

View Details

PMFS Scholarship

View Details

Mahatma Gandhi Gramin Seva Kendra

View Details

Ways to Earn from Home 2020|Work from home Online Jobs

View Details

Shadi Anudan Yojana

View Details

Labour Registration Department

View Details

PM Krishi Udan Yojana

View Details

LPG Gas Cylinder New Prices October 2020 – 14.2 Kg / 19 Kg Non-Subsidy Rates

View Details

LTC cash voucher scheme

View Details

Jan Andolan 2020

View Details

PM Modi at RAISE 2020 Virtual Summit

View Details

National Rural Employment Programme (NREP)

View Details

CSC Digital Cadets Bharti

View Details

How to open Aadhar Card Agency from CSC in 2020?

View Details

Stree Shakti Package Scheme

View Details

Digi Dhan Vyapari Yojana

View Details

Lucky Grahak Yojana

View Details

SMAM Kisan Yojana

View Details

PAHAL – direct benefit transfer for LPG (dbtl)

View Details

Nikshay Poshan Yojana

View Details

NITI Aayog (National Institution for Transforming India)

View Details

Namami Gange Yojana

View Details

Govt. Schemes for Women of India | Sarkari Yojana

View Details

Startup India Scheme

View Details

One Rank One Pension Scheme (OROP)

View Details

Smart City Mission

View Details

Integrated Power Development Scheme (IPDS)

View Details

DigiLocker

View Details

Swades Skill Card Scheme

View Details

Satyabhama – Science and Technology Yojana for Aatmanirbhar Bharat in Mining Advancement

View Details

Affordable Rental Housing Complex (ARHC) Scheme

View Details

Tree Plantation Campaign (Vriksharopan Abhiyan) 2020

View Details

Jal Jeevan Hariyali Abhiyan

View Details

Swachh Survekshan 2021

View Details

Udyam Registration Online Portal

View Details

Tamil Nadu Young Advocates Monthly Allowance Scheme 2020

View Details

Solar Inverter Charger Scheme 2020 Apply

View Details

SERB Accelerate Vigyan Scheme

View Details

Atmanirbhar Bharat App Innovation Challenge

View Details

National Scholarship Portal 2020

View Details

TULIP internship 2020: AICTE urban learning

View Details

Food Safety Mitra Scheme

View Details

Vande Bharat Mission

View Details

FM Nirmala Sitharaman announces details of the relief package.

View Details

Unified Package Insurance Scheme (UPIS)

View Details

Weather Based Crop Insurance Scheme (WBCIS)

View Details

Coconut Palm Insurance Scheme (CPIS)

View Details

Pradhan Mantri Dhan Laxmi Yojana

View Details

Arogya Setu App

View Details

Vivad se Vishwas Scheme

View Details

Rahat Package

View Details

Sukanya Samriddhi Yojana

View Details

Shramev Jayate Yojana

View Details

Passport Seva Project

View Details

CSC Digital Seva Portal – All Links, Check your CSC Status, Bank Mitra Services

View Details

India announces Economic Support of 1.7 Lakh Crore in the wake of the Corona Crisis

View Details

PM Ujjwala Yojana – New List 2020

View Details

SWAYAM – An education initiative by the government

View Details

National Viral Hepatitis Surveillance Programme

View Details

National Programme for the Health Care for the Elderly

View Details

Support to Training and Employment Programme for Women

View Details

Coronavirus – outbreak in China and Public Health Response

View Details

Market Development Scheme

View Details

Rejuvenation, Modernization and Technology Upgradation of the Coir Industry – REMOT

View Details

ROSHNI – a skill development scheme for the Tribals

View Details

Sansad Adarsh Gram Yojana

View Details

The Shyama Prasad Mukherji Rurban Mission (SPMRM)

View Details

Mahatma Gandhi National Rural Employment Guarantee Scheme

View Details

Sampoorna Gramin Rozgaar Yojana (SGRY) – A Hope for those in the Rural Areas

View Details

Training of Rural Youth for Self-Employment (TRYSEM)

View Details

National Watershed Project for Rain fed Areas – NWDPRA

View Details

Rainfed Area Development Programme (RADP)

View Details

Agriculture Contingency Plan

View Details

Prerna – a Marketing Scheme

View Details

NISHTHA scheme

View Details

National Mission for a Green India

View Details

Self Employment Lending Schemes- Credit Line 2-Term Loan Scheme

View Details

Self Employment Lending Schemes- Credit Line 1-Term Loan Scheme

View Details

Pre-Matric Scholarship Scheme 2018 for Minorities

View Details

Kisan Vikas Patra

View Details

Credit Guarantee Trust Fund for Micro & Small Enterprises (CGT SME)

View Details

Enhancement of Competitiveness in the Indian Capital Goods Sector

View Details

National Urban Livelihoods Mission

View Details

National Social Assistance Program

View Details

National Scheme of Incentives to Girls for Secondary Education

View Details

Suryamitra Skill Development Program

View Details

Lean Manufacturing Competitiveness for MSMEs

View Details

Coir Vikas Yojana (CVY)

View Details

Support for International Patent Protection in Electronics and & Information Technology (SIP-EIT)

View Details

Mission Indradhanush

View Details

Ujwal Bharat Scheme

View Details

National AYUSH Mission

View Details

Midday Meal Scheme

View Details

Deendayal Disabled Rehabilitation Scheme

View Details

Solar Charkha Mission

View Details

Off-grid and Decentralized Solar Photovoltaic Applications Scheme

View Details

Janani Shishu Suraksha Karyakram

View Details

Innovation in Science Pursuit Research (INSPIRE) Scholarship Scheme

View Details

National Sports Talent Search Scheme

View Details

National Livestock Mission

View Details

The 4E – End to End Energy Efficiency scheme

View Details

Extramural Research Grant

View Details

Dairy Entrepreneurship Development Scheme – DED

View Details

Rashtriya Uchchtar Shiksha Abhiyan

View Details

BIG Scheme

View Details

Samagra Shiksha Abhiyan

View Details

Stree Swabhiman Yojana

View Details

Marketing Assistance Scheme

View Details

Scheme of Fund for Regeneration of Traditional Industries

View Details

Make in India Scheme

View Details

UMMID Initiative

View Details

Kishore Vaigyanik Protsahan Yojana

View Details

Bank Credit Facilitation Scheme

View Details

Stand Up India Scheme for Women Entrepreneurs

View Details

The UJALA Yojana

View Details

HRIDAY Yojana

View Details

Ujwal DISCOM Assurance Yojana (UDAY)

View Details

Atal Mission for Rejuvenation and Urban Transformation Yojana (AMRUT)

View Details

Electricity Subsidy Yojana 2019

View Details

Interest Deduction on Housing Loans Raised to Rs. 3.5 Lakh for 1st Time Homebuyers

View Details

Ujjwala Sanitary Napkins Initiative for Women Hygiene & Employment by Central Govt.

View Details

Kusum Solar Pump Yojana 2019

View Details

Scheme for Higher Education Youth in Apprenticeship and Skills (SHREYAS)

View Details

Jal Shakti Abhiyan – National Water Conservation Scheme Launched by Central Govt.

View Details

Deen Dayal Upadhyaya Grameen Kaushalya Yojana

View Details

Balika Samridhi Yojana

View Details

Rashtriya Madhyamik Shiksha Abhiyan (Integrated)

View Details