new Delhi. The post office has about half a dozen savings schemes. This includes schemes like FDs of the bank to other small savings schemes. The most important thing is that the post office is getting more interest from the bank. At the same time, the money deposited in the post office is completely safe.
Because the security of the money deposited in the post office is guaranteed by the Government of India. Such guarantee of security of deposit money is also not with the bank. If the bank is drowned, then only your deposit up to Rs 5 lakh is safe, it is sure to sink more. But the money deposited in the post office is safe. In a post office deposit scheme, the money doubles. The post office interest rates are reviewed every three months. In such a situation, let us know how much interest is being received on the deposit schemes of the post office at this time.
Know the interest rates of post office savings schemes
4% interest is being given in the post office savings account at this time.
At present, 5.5% interest is being given on 1 year time deposit of post office.
At present, 5.5% interest is being given on the 2-year time deposit of the post office.
At present, 5.5% interest is being given on the 3-year time deposit of the post office.
6.7% interest is being paid on the 5-year time deposit of the post office.
Note: The Time Deposit (TD) of the Post Office is exactly the same as the FD of the bank.
These are the interest rates of some other development schemes of the post office
5.8% interest is being paid in post office recurring deposits at this time.
6.6% interest is being given on the post office monthly income scheme.
At present, interest of 7.6% is being given on the Sukanya Samriddhi Account (SSA).
National Interest Certificate i.e. 6.8% interest is being given on NSC at this time.
– At present, interest of 7.4% is being given on the Senior Citizen Savings Scheme (SCSS).
This is the post office money doubling scheme
6. At present, interest of 6.9% is being given on Kisan Vikas Patra.
If you invest in Kisan Vikas Patra (KVC), it doubles in 124 months or 10 years and 4 months. A minimum of Rs 1000 can also be deposited in this scheme and there is no maximum investment limit.
Know when interest rates change
These interest rates are applicable from 1 July 2020. Keep in mind that the post office interest rates are reviewed every three months, and can be changed accordingly. The next announcement of interest rates will be on 1 October 2020. From this day the interest may remain the same, or it may be more or less.
Whichever quarter you invest in post office time deposit, post office recurring deposit, post office monthly income scheme, National Savings Certificate (NSC) and Kisan Patra (KVP), the interest rate at that time will continue to be available throughout the plan period.
However, the government’s interest rate on Public Provident Fund (PPF) and Sukanya Samriddhi Yojana varies from government to government, and is considered applicable accordingly.
