The Ministry of Finance notifies interest rates for small-savings schemes — PPF, SSY, NSC, KVP, SCSS, POMIS, post office RD/TD and savings accounts — every quarter. Rates for July–September 2026 were kept unchanged, and have been steady since the January–March 2024 quarter.
Key takeaways
- Rates are reviewed quarterly and announced near the end of the previous quarter.
- They are linked to government-bond yields of similar maturity (Shyamala Gopinath Committee formula) plus a spread, but the final decision rests with the Government.
- For NSC, KVP, SCSS, POMIS and TD the rate is locked when you invest.
- For PPF, SSY, savings and RD balances, the prevailing quarterly rate applies to your balance.
Current rates (July–September 2026)
| Scheme | Rate |
|---|---|
| Sukanya Samriddhi | 8.2% |
| SCSS | 8.2% |
| NSC | 7.7% |
| KVP | 7.5% (115 months) |
| 5-year TD | 7.5% |
| POMIS | 7.4% |
| PPF | 7.1% |
| 5-year RD | 6.7% |
| Savings deposit | 4.0% |
What changes mean for you
- Rate cut: existing NSC/SCSS/TD holders keep their locked rate; PPF/SSY balances earn less from the next quarter.
- Rate hike: new investments benefit; locked products do not.
- Some investors time lump-sum NSC/SCSS investments before an expected cut.
Your action checklist
- Decide the goal and horizon first — girl child, retirement income, tax saving or a fixed 5-year goal.
- Check the current quarter's notified rate and whether it is locked for your scheme.
- Open the account at a post office or authorised bank with Aadhaar and PAN.
- Set a yearly reminder to deposit before 5 April (PPF/SSY) and to meet the minimum deposit.
- Add nominees and keep passbooks/e-statements safe.
FAQs
Where are the rates published?
In the Ministry of Finance notification and on India Post and bank websites.
Are small-savings schemes safe?
They carry a sovereign guarantee.
Compare all rates on our Saving Schemes hub.
