Latest Post Office Small Saving Schemes Interest rates Oct-Dec 2019

Modi government has announced the interest rate for PPF, Sukanya Samriddhi, NSC, KVP Interest Rates applicable for October -Dec 2019. Let us see the changes applicable with effective from 1st October 2019.

Earlier the interest rates used to be announced on yearly once. However, since FY 2016-17, the rate of interest is now being fixed on a quarterly basis.

Appended is schedule for change in interest rates for all Post Office Savings Schemes.

 

Last quarter, the Government reduced the interest of all Post Office Small Saving Schemes Interest Rates (except savings account interest rate, which was retained at 4%) for the period of July 2019 to September 2019 by 10 basis points. It was due to fact that RBI reduced the interest rate in its recent monetary policy.

Know old rates here.

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Latest Post Office Small Saving Schemes Interest rates Oct-Dec 2019

However, this time, the Government kept the rates unchanged. Government don’t want to spoil festive spirit in Indian depositors specially at a time when stock markets are falling and consumer confidence is at 5 years low. 

Read in this article on how PPF gave more return than stock market for last 5 years  

RBI last week has reduced interest rates by 0.25% or 25 basis points. Also there will be enough liquidity in banking system during January to March quarter. Hence we expect that all these rates will be downward revision in next 1-2 quarters.

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