Post office deposit rate of 1-year raised to 7%
The government has effected marginal changes in interest rate on small saving deposits scheme for 01 January to 31 March 2019 period, which are revised on a quarterly basis.The interest rates on Public Provident Fund (PPF), Sukanya Samriddhi scheme and Senior Citizen Savings schemes have been kept unchanged. The interest rate on the 1-year post office time deposit is raised to 7% for the January-March 2019 period from 6.9% in the previous quarter, while the rate on the 3-year deposit has been reduced to 7% from 7.2%.
The interest rates on 2-year remains unchanged at 7% and 5-year post office deposits at 7.8%. Further, the interest rate on 5-year post office recurring deposit is also unchanged at 7.3%.
The interest rate on the PPF and the 5-year National Savings Certificate remains unchanged at 8%. The interest rate on Senior Citizen Savings schemes is kept steady at 8.7% and Sukanya Samriddhi scheme at 8.5%.
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