Rates as of 29 October 2026. These are the rates for 1 October 2026 to 31 December 2026. The Finance Ministry memorandum of 30 September 2026 kept them unchanged from the previous quarter.
Rates change. Confirm the figure with the bank, post office or lender before you book a deposit or borrow.
Savings deposit
- Tenure
- Savings account
- Interest rate
- 4.00%
Post office time deposit
- Tenure
- 1 year
- Interest rate
- 6.90%
Post office time deposit
- Tenure
- 2 years
- Interest rate
- 7.00%
Post office time deposit
- Tenure
- 3 years
- Interest rate
- 7.10%
Post office time deposit
- Tenure
- 5 years
- Interest rate
- 7.50%
Post office recurring deposit
- Tenure
- 60 months
- Interest rate
- 6.70%
Senior Citizens’ Savings Scheme
- Tenure
- 5 years
- Interest rate
- 8.20%
Monthly Income Scheme (POMIS)
- Tenure
- 5 years
- Interest rate
- 7.40%
National Savings Certificate
- Tenure
- 5 years
- Interest rate
- 7.70%
Public Provident Fund
- Tenure
- 15 years from the end of the opening year
- Interest rate
- 7.10%
Kisan Vikas Patra
- Tenure
- Matures in 115 months
- Interest rate
- 7.50%
Sukanya Samriddhi Yojana
- Tenure
- 21 years
- Interest rate
- 8.20%
| Scheme | Tenure | Interest rate |
|---|---|---|
| Savings deposit | Savings account | 4.00% |
| Post office time deposit | 1 year | 6.90% |
| Post office time deposit | 2 years | 7.00% |
| Post office time deposit | 3 years | 7.10% |
| Post office time deposit | 5 years | 7.50% |
| Post office recurring deposit | 60 months | 6.70% |
| Senior Citizens’ Savings Scheme | 5 years | 8.20% |
| Monthly Income Scheme (POMIS) | 5 years | 7.40% |
| National Savings Certificate | 5 years | 7.70% |
| Public Provident Fund | 15 years from the end of the opening year | 7.10% |
| Kisan Vikas Patra | Matures in 115 months | 7.50% |
| Sukanya Samriddhi Yojana | 21 years | 8.20% |
Small-savings rates are set by the Ministry of Finance for a quarter, not by each post office. This card covers 1 October 2026 to 31 December 2026. The office memorandum F.No. 1/4/2019-NS, dated 30 September 2026, says the rates stay as notified for the previous quarter. The memorandum does not reprint the table. The figures below are the card it keeps in force, and they are the same numbers the Finfod calculators use.
The next quarter would be January to March 2027 if the ministry follows its usual calendar. The date of that notice is not published yet. Until a new memorandum says otherwise, this is the card.
Savings account and time deposits
The savings deposit is the post office savings account, at 4.00% a year. It is an account rate, not a locked tenure. Interest on a savings account can qualify for a deduction under Section 153 (this was section 80TTA), up to ₹10,000, for a person under 60 who is outside Section 202.
A time deposit locks a lump sum. The one-year rate is 6.90%, the two-year rate is 7.00%, the three-year rate is 7.10%, and the five-year rate is 7.50%. The five-year deposit is the one people compare with a bank fixed deposit. Interest on a time deposit is taxable. Put the bank cards beside it on the FD interest rates page, and run a maturity figure in the FD calculator only after you type the rate you were actually offered.
Recurring deposit
The post office recurring deposit is 6.70% a year for 60 months. You pay a fixed amount every month. The RD calculator uses this rate as its starting point. Interest is still taxable. A bank may deduct tax at source on a bank recurring deposit. The income-tax department’s threshold list does not put a post office recurring deposit on that same line. The interest is taxable either way.
Monthly income, NSC, SCSS and KVP
The Monthly Income Scheme, often called POMIS, pays 7.40%. It is built to pay interest out each month for five years. The interest is taxable.
National Savings Certificate is 7.70% for five years. The interest is taxable. This page does not treat NSC as tax-free.
The Senior Citizens’ Savings Scheme is 8.20% for this quarter. It is a deposit for a senior citizen, with a lock-in. The interest is taxable. A senior citizen outside Section 202 may be able to use Section 153 (this was section 80TTB) on interest up to ₹50,000. Confirm the scheme rules at the post office before you open an account. This page is the rate, not the application form.
Kisan Vikas Patra is 7.50%. At this rate the certificate matures in 115 months. That maturity count is part of the same card. The interest is taxable.
PPF and Sukanya Samriddhi
PPF is 7.10% for 1 October 2026 to 31 December 2026. You can deposit from ₹500 to ₹1,50,000 in a year, in multiples of ₹50. The account runs for 15 years from the end of the financial year in which you opened it. A payment from the account is dealt with under Schedule II (this was Section 10(11)). A deposit can be claimed under Section 123 only outside Section 202, and only inside the ₹1,50,000 cap. The PPF calculator uses this quarter’s rate.
Sukanya Samriddhi is 8.20% for the same quarter. It is an account for a girl, opened before she turns 9. Deposits run for 15 years and the account matures in 21 years. The yearly deposit cap is ₹1,50,000. A payment is excluded from total income under Schedule II, table item 5 (this was Section 10(11A)). A deposit can be claimed under Section 123 only outside Section 202. The Sukanya Samriddhi calculator and the scheme guide go further into the rules.
PPF and Sukanya Samriddhi are the two products on this card that Finfod documents as excluded from total income. The other rates are interest you should expect to pay tax on.
What to do with the card
Pick the product that matches the cash you have and the year you need it. Read small savings scheme, fixed deposit and recurring deposit if the names are still unclear.
The figures were checked on 29 October 2026 against the 30 September 2026 memorandum. Confirm the rate on your receipt when you deposit.
Questions
Who sets these small-savings rates?
The Ministry of Finance sets them for the quarter. The current memorandum is F.No. 1/4/2019-NS, dated 30 September 2026. It keeps the rates for 1 October 2026 to 31 December 2026 unchanged from the previous quarter. A post office does not choose its own card rate.
Which small-savings interest is tax-free?
On this site, PPF maturity is dealt with under Schedule II, and a Sukanya Samriddhi payment is excluded under Schedule II, table item 5. Both can still be claimed as a deposit deduction only outside Section 202. Interest on the savings deposit, time deposits, recurring deposit, NSC, KVP, the monthly income scheme and SCSS is taxable.
Are these the same rates as the calculators?
Yes. PPF at 7.10%, Sukanya Samriddhi at 8.20% and the post office recurring deposit at 6.70% are the same rates the PPF, Sukanya Samriddhi and post office RD calculators use.
How does a post office time deposit compare with a bank FD?
The five-year post office time deposit is 7.50% for this quarter. Bank cards for five years are on the FD page, and they differ by bank. Compare the year you need, the penalty if you break the deposit, and the tax. Then confirm both numbers on the day you book.
When can these rates change?
The ministry notifies small savings for a quarter. This card runs to 31 December 2026. A later memorandum would cover the next quarter. This page does not guess that date. Check the memorandum link in the sources before you treat an old screenshot as current.
Sources
Words used here
- PPF — A 15-year government scheme. The rate for the current quarter is 7.1%.
- Small savings scheme — A government savings account. The interest rate is notified for each quarter.
- Fixed deposit — A lump sum parked at a bank’s rate. The interest is taxed as you earn it.
- Recurring deposit — A fixed monthly deposit. Post office interest is taxable, and the rate is notified each quarter.