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Post Office Scheme Latest Interest Rate 2021: New interest rate issued for post office schemes, know new interest rate

The Post Office Recurring Deposit Account is a government-guaranteed scheme of depositing small amounts in installments with better interest rate. In this scheme, you can start investing with a small amount of just Rs 100. Moreover, there is no maximum investment limit, you can invest as much money as you want.




It must be noted that the Post Office Recurring Deposit account can be opened for five years. However, banks offer the facility of recurring deposit accounts for six months, 1 year, 2 years, 3 years. Interest is calculated every quarter (at annual rate) on the deposited money and it is added (including compound interest) to your account at the end of every quarter.

Post Office Recurring Deposit: Know the interest rate

At present, the Post Office Recurring Deposit scheme offer interest of 5.8%. This new interest rate is applicable from April 1, 2020. The Central government has fixed the interest rates of all its small savings schemes every quarter.




Invest Rs 10000 every month, and you get return of Rs 16 lakh

If you invest Rs 10,000 every month in the post office RD scheme for 10 years, then after 10 years you will get more than Rs 16 lakh at the rate of 5.8%.

Interest rates on post office savings schemes

InstrumentInterest rate (%) for July 1, 2021 to Sep 30, 2021Compounding frequency
Savings Account4 %Annually
1 year Time Deposit5.5 %Quarterly
2 year Time Deposit5.5 %Quarterly
3 year Time Deposit5.5 %Quarterly
5 year Time Deposit6.7 %Quarterly
5-year Recurring Deposit5.8 %Quarterly
5-year Senior Citizen Savings Scheme7.4 %Quarterly and Paid
5-year Monthly Income Account6.6 %Monthly and Paid
5-year National Savings Certificate6.8 %Annually
Public Provident Fund7.1 %Annually
Kisan Vikas Patra6.9 (will mature in 124 months)Annually
Sukanya Samriddhi Yojana7.6 %Annually

 

 

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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