The government has announced the interest rates for small saving schemes for the period April to June 2019 (1st Quarter of FY 2019-2020). This time also, the government has left unchanged the interest rates for small saving schemes. Let us take a look at the interest rates applicable on post office small saving schemes from April 1, 2019.
The small saving schemes like Public Provident Fund, National Savings Certificate, RD Account, Sukanya Samriddhi, Senior Citizens Savings Scheme and Post Office Time Deposit are very popular among the Indians. The interest rates on post office saving schemes have a fixed locking period except for savings account.
Table of Contents
Quarterly Timetable for change in Interest Rates
Interest rates for post office small savings schemes are notified on a quarterly basis since April 1, 2016. The table below shows the quarterly timetable for change in interest rates of small saving schemes.
| S. No. | Quarter | The date on which it will be notified |
| 1 | First Quarter (April-June) | 15th March |
| 2 | Second Quarter (July-September) | 15th June |
| 3 | Third Quarter (October-December) | 15th September |
| 4 | Fourth Quarter (December-March) | 15th December |
As per the above timetable, the interest rates for post office small saving schemes are announced for the 1st quarter of the financial year 2019-20 starting April 1, 2019, and ending on June 30, 2019. The government has kept the interest rates for small savings schemes unchanged for the April-June quarter.
Latest Interest Rates for Small Saving Schemes
A quick snapshot of the interest rates of post office schemes for the April to June quarter of the financial year 2019-20 is given below.
1. The interest rate for the Senior Citizens Savings Scheme has been retained at 8.7% (Quarterly compounding and paid).
2. The interest rate for child savings scheme Sukanya Samriddhi Yojana account has been retained at 8.5 percent p.a. (Annually compounding).
3. National Savings Certificate (NSC) will fetch an interest rate of 8 percent per annum (Annually compounding).
4. Public Provident Fund (PPF) will also offer 8 percent per annum (Compounded annually).
5. Kisan Vikas Patra (KVP) will fetch 7.7per cent per annum (Annually compounded and mature in 112 months).
6. The interest rate for Post Office Monthly Income Account has been retained at 7.7 percent p.a. (Compounded monthly and paid).
7. Five-years Recurring Deposit Account will offer 7.3 percent (Compounded quarterly).
8. Time Deposits of 1-5 years tenure will fetch 7percent to 7.8 percent per annum (Quarterly compounding).
Five-Years’ Time Deposit – 7.8 percent per annum
Three-Years’ Time Deposit – 7 percent per annum
Two-Years’ Time Deposit – 7 percent per annum
One-Year Time Deposit – 7 percent per annum
9. The interest rate for Post Office Savings Account has been retained at 4 percent per annum (Compounded annually).
Interest Rates for Small Saving Schemes (April 1, 2019, to June 30, 2019)
Below is the latest interest rates (April 1, 2019, to June 30, 2019)
| Scheme Name | The rate of Interest from 01/04/2019 to 30/06/2019 | The rate of Interest from 01/01/2019 to 31/03/2019 |
| Post Office Savings Account | 4% | 4% |
| Time Deposit of 1 Year | 7.00% | 7.00% |
| Time Deposit of 2 Year | 7.00% | 7.00% |
| Time Deposit of 3 Year | 7.00% | 7.00% |
| Time Deposit of 5 Year | 7.80% | 7.80% |
| Recurring Deposit (5 Years) | 7.30% | 7.30% |
| Monthly Income Account (5 Years) | 7.70% | 7.70% |
| Kisan Vikas Patra (KVP) | 7.70% | 7.70% |
| National Savings Certificate (NSC) 5 Years | 8.00% | 8.00% |
| Public Provident Fund (PPF) | 8.00% | 8.00% |
| Sukanya Samriddhi Account | 8.50% | 8.50% |
| Senior Citizens Savings Scheme (SCSS) | 8.70% | 8.70% |
Final Thoughts
There is nine post office small savings schemes. The government has kept the interest rates for small saving schemes unchanged for the first quarter of the financial year 2019-20. You can earn the interest rate of 4-8.7% on these post office small savings schemes. Some of the small saving schemes will remain a good investment option because they are low on risk and provide good returns. These saving schemes offer complete safety and security of your invested capital.
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