Post Office Savings Bank (POSB) Interest Rate ready reckoner for 2nd Quarter of the FY2024-25

The POSB Rate of Interest has been revised vide Ministry of Finance OM No. F.No.1/4/2019-NS dated 28/06/2024. There are no changes in the rate of interest revised for the 1st quarter of the financial year. Therefore, the same rate of interest will continue to apply from 01.04.2024 to 30.09.2024.

Post Office Scheme Latest Interest rate for the period 01st July 2024 to 30th September 2024 - Second quarter of the Year 2024-2025

Senior Citizen Savings Scheme	SCSS	8.2 %	5 Years
Sukanya Samriddhi Yojana Account	SSA	8.2 %	21 Years
National Savings Certificate	NSC	7.7%	5 Years
Kisan Vikas Patra	KVP	7.5%	9 Years 7 months
5 Year Time Deposit	5 TD	7.5%	5 Years
Mahila Samman Savings Certificates	MSSC	7.5%	2 Years
Monthly Income Scheme	MIS	7.4 %	5 Years
Public Provident Fund	PPF	7.1 %	15 Years
3 Year Time Deposit	3 TD	7.1 %	3 Years
2 Year Time Deposit	2 TD	7.0 %	2 Years
1 Year Time Deposit	1 TD	6.9%	1 Year
Recurring Deposit	RD	6.7 %	5 Years
Savings Account	SB	4.0 %

Effective July 1, 2024, India Post Savings Schemes will offer returns based on the current interest rate, with maturity values calculated accordingly. Please note that the interest rate is subject to revision every quarter (every three months) and is determined by the Ministry of Finance. The rates may change over time, and investors should check for updates before investing.

RD	For Deposit 100 X 60= 6,000, Interest 1,136.58, (After extension with deposit: 6 Year = 8871.09, 7 Year = 8 Year = 12705.77, 9 Year = 14822.89, 10 Year =17085.46)	Total 7136.58 10724.75,
1 TD	For Deposit 1,00,000, Yearly Interest 7080.60 x 1	Total 1,07,081
2 TD	For Deposit 1,00,000, Yearly Interest 7185.90x2	Total 1,14,372
3 TD	For Deposit 1,00,000, Yearly Interest 7291.29x3	Total 1,21,873
5 TD	For Deposit 1,00,000, Yearly Interest 7713.59 X 5	Total 1,38,568
MSSC	For Deposit 1,00,000, Interest on maturity 16,022	Total 1,16,022
MIS	For Deposit 1,00,000, Monthly Interest 616.67 X 60	Total 1,37,000
SCSS	For Deposit 1,00,000, Quarterly Interest 2,050 X 20	Total 1,41,000
MIS + RD	For Deposit 1,00,000, Interest 43,953.15	Total 1,43,953
SCSS + RD	For Deposit 1,00,000, Interest 48,728.76	Total 1,48,729
NSC	For Deposit 1,00,000, Interest on maturity 44,903.41	Total 1,44,903
KVP	For Deposit 1,00,000, Interest on maturity 1,00,000	Total 2,00,000
PPF *	Monthly 1000 x 15 years -1,80,000, Interest 15 yrs - 1,35,572	Total 3,15,572
SSA *	Monthly 1000 x 15 Years -1,80,000, Interest 21 yrs - 3,74,612	Total 5,54,612

 

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