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HomePersonal FinancePost Office Schemes latest Interest Rates: From ₹ 20 to ₹ 1000......

Post Office Schemes latest Interest Rates: From ₹ 20 to ₹ 1000… no matter how much you invest, now you will get more profit – know interest, minimum charge

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Post Office Schemes latest Interest Rates: These days good interest is being received on investment in all post office schemes. Recently, the government changed the rules of investment in the Monthly Income Savings Scheme in Budget 2023. Also gave a big gift to senior citizens.



Post office schemes Interest rates 2023: Post office is a traditional means of investment. Guaranteed Returns and Safe Investment. From minors to senior citizens, an investment destination that has been trusted over the years. These days good interest is being received on investment in all Post Office Savings Schemes. Recently, the government changed the rules of investment in the Monthly Income Savings Scheme in Budget 2023. Also gave a big gift to senior citizens. Earlier, in the review of interest every quarter, the interest rate on some schemes was increased. In such a situation, you should know which scheme is getting how much interest ((Post office Savings Schemes Interest rates) and where will you get more benefit?

1. Post Office Savings Account

You can open a post office savings account in any post office in the country. You get fixed interest on the deposits made in the account. This scheme is fit for those who want fixed returns. The special thing is that only 20 rupees are needed to open the account.

Interest: 4.00% p.a.
Minimum Balance: Rs.20/-

2. Post Office Recurring Deposit Account (RD)

You can deposit every month in Post Office Recurring Deposit Account RD for 5 years. Compounding interest is available on quarterly basis. Money has to be deposited in a total of 60 installments in the Post Office Small Savings Scheme. This scheme is good for those who want to invest every month. Investors can check their returns through RD Calculator.

Interest: 5.80% p.a.
Minimum Balance: Rs.100/-

3. Post Office Time Deposit Account (TD)

Post Office Time Deposit Account is one of the most popular savings schemes of the post office. The interest on the scheme is decided by the Ministry of Finance. In the scheme, single account, joint account or for minor children (above 10 years) can be opened under parental supervision. The government has increased the interest rates of post office time deposit scheme by 20 basis points on January 1, 2023 itself.

Interest: 7.00% p.a.
Minimum Balance: Rs.1000/-

4. Post Office Monthly Income Scheme Account (MIS)

Post Office Monthly Savings Scheme (MIS), a great source of regular income. Government guarantee is available. Along with this, good interest is also available. The government reviews the interest every quarter and fixes the interest rate for the next quarter. POMIS has a lock-in period of 5 years. On maturity, the investor has the option to withdraw the entire amount or reinvest the same amount. In Budget 2023, the government increased the deposit limit for individuals to Rs 9 lakh. At the same time, you can invest up to Rs 15 lakh in a joint account.

Interest: 7.10% p.a.
Minimum Balance: Rs.1000/-

5. Senior Citizen Savings Scheme (SCSS)

Excellent source of income for senior citizens. Government of India Guaranteed Scheme. Depositors get guaranteed safe investment along with regular income. Regular income in Senior Citizen Savings Scheme (SCSS) means payment of interest. Every quarter the interest is calculated and credited to the investors account. Interest is also reviewed on a quarterly basis only.

Interest: 8.00% p.a.
Minimum Balance: Rs.1000/-

6. Public Provident Fund Account (PPF)

Public Provident Fund (PPF) was launched by the National Savings Institute in 1968. Government guarantee is available on investment and interest in the scheme. The Finance Ministry reviews the interest every quarter. However, the interest received on the scheme is credited on March 31 every year. However, the interest is calculated on a monthly basis. In this, interest is calculated on the minimum balance between 5th to 30th.

Interest: 7.10% p.a.
Minimum Balance: Rs.500/-

7. National Savings Certificate (NSC)

National Savings Certificate (NSC) is a small savings scheme, which encourages low income groups and mid income groups to save. This scheme was launched by the government itself, so the returns are guaranteed. Interest rates are fixed every quarter. The maturity of this Fixed Income Savings Scheme is 5 years.

Interest: 7% p.a.
Minimum Balance: Rs.1000/-

8. Kisan Vikas Patra (KVP)

Any Indian citizen can invest in Kisan Vikas Patra. The specialty of the scheme is that it doubles your money in 123 months (10 years 3 months). There is guaranteed income in the form of interest. The interest rate is fixed every quarter.

Interest: 7.20% p.a.
Minimum Balance: Rs.1000/-

9. Sukanya Samriddhi Accounts (SSA)

Under the Beti Bachao Beti Padhao campaign, the government had started the Sukanya Samriddhi Yojana. In the Post Office Savings Scheme, the Modi government launched in the year 2015 keeping in mind the education and marriage of daughters. This is a fixed income scheme, which is available in the form of interest. The interest is reviewed and calculated on a quarterly basis. Investors can use Sukanya Samriddhi Yojana to calculate their returns.

Interest: 7.60% p.a.
Minimum Balance: Rs.250/-

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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