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Interest Rates On Post Office Schemes From July-October 2016
The government revises the interest rate on post office small savings scheme every quarter. Accordingly, the interest rates on various post office schemes for the period July-Oct 2016 would be as follows:
| Instrument | Rate of interest w.e.f. 01.04.2016 to 30.6.2016 | Rate of interest w.e.f. 01.07.2016 to 30.9.2016 | Compounding frequency |
| Savings Deposit | 4.0 | 4.0 | Annual |
| 1 Year Deposit | 7.1 | 7.1 | Quarterly |
| 2 Year Deposit | 7.2 | 7.2 | Quarterly |
| 3 Year Deposit | 7.4 | 7.4 | Quarterly |
| 5 Year Deposit | 7.9 | 7.9 | Quarterly |
| 5 Year Recurring Deposit | 7.4 | 7.4 | Quarterly |
| 5 Year Senior Citizens Savings Scheme | 8.6 | 8.6 | Quarterly and paid |
| 5 year Monthly Income Account Scheme | 7.8 | 7.8 | Monthly and paid |
| 5 Year National Savings Certificate | 8.1 | 8.1 | Annual |
| Public Provident Fund Scheme | 8.1 | 8.1 | Annual |
| Kisan Vikas Patra | 7.8 (will mature in 110 months) | 7.8 (will mature in 110 months) | Annual |
| Sukanya Samriddhi Account Scheme | 8.6 | 8.6 | Annual |
Earlier, interest rates were set for the full year, the government will now on set them every quarter, based on the previous 3-month yields on Government-Securities or G-Sec. Investors with risk appetite can reshuffle their investments considering their risk appetite, age, financial goals, also tax implications.
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