The Ministry of Finance (MoF) has notified the post office interest rate for the period October to December 2021 (3rd Quarter of Financial Year 2021-2022) on September 30, 2021.
This time again, the Government of India has kept the post office interest rate 2021 unchanged for the third quarter of the current financial year 2021-2022. This is the 6th quarter in a row that the government has kept unchanged the post office savings interest rate.
This means the Indian post office interest rate from 1st October to 31st December 2021 shall remain unchanged from those notified for the second quarter of FY 2021-2022. The decision of keeping the post office deposit rates unchanged will bring some relief to the fixed-income investors.
Let us take a look at the new interest rates on post office schemes from October 1, 2021.
Table of Contents
Indian Post Office Scheme
Public Provident Fund, National Savings Certificates, RD account, MIS, SCSS, Sukanya Samriddhi Yojana (SSY), and POTD are the best post office deposit scheme. A large number of fixed-income investors invest their money in these post office investment schemes.
The post office interest rate on Recurring Deposit account, NSC, POTD, MIS, KVP, and SCSS remain the same till the date of maturity when you invest in these postal saving schemes. However, the interest rate for Public Provident Fund (PPF) will change every quarter. New investments in these schemes during the October to December 2021 quarter will also fetch the same interest rates as they did in the last quarter.
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Timetable for change in PO Interest Rates
At the start of every quarter of the financial year, the post office interest rate is announced for the next three months on the yield on government bonds since April 1, 2016. The timetable for change in India post interest rates is mentioned in the below table.
| S. No. | Quarter for which interest rates would be effective | The date on which it will be notified |
| 1 | First Quarter (April to June) | 15th March |
| 2 | Second Quarter (July to September) | 15th June |
| 3 | Third Quarter (October to December) | 15th September |
| 4 | Fourth Quarter (December to March) | 15th December |
As per the schedule, the interest rates for Indian post office saving schemes are announced for the 3rd quarter of the financial year 2021-22 starting October 1, 2021, and ending on December 31, 2021. The government has kept the post office interest rate unchanged for the October-November-December quarter of the financial year 2021-22.
To read the office memorandum dated 30.09.2021 issued by the Department of Economic Affairs (Budget Division), Ministry of Finance, Government of India. Click here
Post Office Interest Rate 2021
Below is a quick summary of the post office current interest rate for the October to December quarter of the financial year 2021-22.
1. The rate of interest of the Senior Citizens Savings Scheme (SCSS) shall remain unchanged from last quarter at 7.4%. Quarterly compounding and paid every quarter.
2. The rate of interest of Sukanya Samriddhi Yojana (SSY) shall also remain at 7.6% i.e. unchanged from the last quarter. Annually compounding and paid on maturity.
3. Rate of interest of National Savings Certificate (NSC) will also remain unchanged at 6.8%. Annually compounding but payable at maturity.
4. Public Provident Fund (PPF) shall continue to offer an interest rate of 7.1%. Compounded annually and paid on maturity. This scheme matures in 15 years.
5. Kisan Vikas Patra (KVP) scheme shall continue to fetch at 6.9%. Annually compounded and paid on maturity. The KVP scheme will now double your money in 124 months.
6. The interest rate for the 5-year Post Office Monthly Income Scheme is retained at 6.6%. Monthly compounded and paid.
7. Rate of interest of 5 years RD Account is retained at 5.8% i.e. unchanged from last quarter. Compounded quarterly.
8. Rate of interest of POTD scheme of 1 to 5 years’ period will remain unchanged at 5.5% to 6.7% p.a. Quarterly compounding. This scheme is similar to FDs offered by banks. Interest rates for 1 to 3 year Post Office Time Deposit are 5.5% p.a. and 6.7% p.a. for a 5-year time deposit.
9. Rate of interest of post office savings account shall remain constant at 4% as it was in the last quarter. Compounded annually.
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Post Office Latest Interest Rates
Here, you will find the post office interest rates table 2021 (October 1, 2021, to December 31, 2021).
Post Office Interest Rate Table 2021
| Scheme Name | Rate of Interest from 01/10/2021 to 31/12/2021 | Rate of Interest from 01/07/2021 to 30/09/2021 |
| Post Office Savings Account | 4% | 4% |
| 1 Year Time Deposit | 5.50% | 5.50% |
| 2 Years Time Deposit | 5.50% | 5.50% |
| 3 Years Time Deposit | 5.50% | 5.50% |
| 5 Years Time Deposit | 6.70% | 6.70% |
| 5 Years Recurring Deposit (RD) | 5.80% | 5.80% |
| 5 Years Monthly Income Account | 6.60% | 6.60% |
| Kisan Vikas Patra (KVP) Interest | 6.90% | 6.90% |
| 5 Years National Savings Certificate (NSC) | 6.80% | 6.80% |
| Public Provident Fund (PPF) | 7.10% | 7.10% |
| Sukanya Samriddhi Yojana | 7.60% | 7.60% |
| Senior Citizens Savings Scheme | 7.40% | 7.40% |
You can also view the earlier quarter’s interest rate in my earlier posts:
- Latest post office savings account interest rate April to June 2021
- Interest rates for post office small savings scheme January–March 2021
Final Thoughts
The Government of India kept the post office interest rate unchanged for the third quarter (October to December) of the financial year 2021-22. This will bring some relief to a large number of Investors who invest in these post office investment schemes.
With no change in post office interest rate 2021 (October-November-December), some postal saving schemes will remain a good investment option for investors. However, before investing, please learn about the tax liability of the interest that you will earn on these schemes.
Indian post office saving schemes offer the safety and security of your invested capital as they are government-backed schemes.
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