What is the applicable latest Post Office Small Saving Schemes Interest rates Oct-Dec 2019? The government announced the interest rate for PPF, Sukanya Samriddhi, NSC, KVP Interest Rates Oct-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, now from 2016-17, the rate of interest will be fixed on a quarterly basis. I already wrote a detailed post on this. I am providing the links to those earlier posts below.
- Post Office Savings Schemes -Changes effective from 1st, April 2016
- Premature closure of PPF account – New Rules 2016
Based on these new changes, now onward interest rate will be declared on a quarterly basis. The earlier quarters (FY 2016-17 and FY 2019-20) interest rate can be viewed in my earlier posts “Interest of PPF KVP NSC SCSS and Sukanya Samriddhi for April-June 2016“, “PPF and Sukanya Samriddhi Scheme interest rate July-Sept 2016“, “PPF, Sukanya Samriddhi, NSC, KVP Interest Rates Oct-Dec 2016”, “PPF, Sukanya Samriddhi, NSC, KVP Interest Rates Jan-Mar 2017“, “PPF, Sukanya Samriddhi, NSC, KVP Interest Rates April-June 2017“, “PPF, Sukanya Samriddhi, NSC, KVP Interest Rates July-Sept 2017“, “PPF, Sukanya Samriddhi, NSC, KVP Interest Rates Oct-Dec 2017?., “Latest Post Office Small Saving Schemes Interest rates Jan-March 2018“, “Latest Post Office Small Saving Schemes Interest rates Apr-June 2018“ “Latest Post Office Small Saving Schemes Interest rates July-Sept 2018“, “Latest Post Office Small Saving Schemes Interest ”, “Latest Post Office Small Saving Schemes Interest rates Jan-Mar 2019“, “Latest Post Office Small Saving Schemes Interest rates April-June 2019“ and “Latest Post Office Small Saving Schemes Interest rates July-Sept 2019“.
Below is the timetable for change in interest rates for all Post Office Savings Schemes.
As per the schedule, Government announced the interest rate applicable to all Post Office Savings Schemes from 1st October 2019 to 31st December 2019.
Latest Post Office Small Saving Schemes Interest rates Oct-Dec 2019
Just to quickly recap, 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 to September for 10 basis points. It is all due to the falling interest rate in Bank FDs and also due to RBI reduced the interest rate in its recent monetary policy.
However, this time, the Government kept the rates unchanged. 
Post Office Small Saving Schemes Interest rates trend of last one year
Below is the interest rate trend for the last one year.
You notice that after a long gap, even though the current interest rate reduced to 10 basis points, but in the last one year, the period of July-Sept 2018 was the lowest. After that, it is a steady up and down but not so drastic fall like 2nd quarter 2018.
- All about Public Provident Fund (PPF)
- Public Provident Fund Interest Rate 2018 and 50 Yrs History
- How to open PPF account online in ICICI and SBI Banks?
- PPF and NSC for NRIs – Amendment Rules 2017
- PPF Account for Minor and Wife – Rules, Tax Benefits and Tricks
- How to encash or withdraw NSC bought from different Post Office?
- NSC-Accrued Interest taxation and way to reduce it
- Post Office Monthly Income Scheme or MIS – A complete guide
- Premature closure of PPF account – New Rules 2016
- PPF withdrawal rules & options after 15 years maturity
- Public Provident Fund -20 unknown facts
- 15 Rules of availing Loan against PPF (Public Provident Fund)
- How to transfer PPF Account from Post Office or Bank to another Post Office or Bank?
- Excel PPF Calculator-Calculate goal, loan or withdrawal amounts
- PPF-Loan and Withdrawal
- PPF-When to contribute to get higher returns?
- All about Kisan Vikas Patra (KVP)-2014
- Sukanya Samriddhi Account -When to invest to earn more returns?
- Sukanya Samriddhi Account-An investment scheme for your girl child
- Post Office Senior Citizen Scheme (SCSS)-Benefits and Interest Rate
- NSC and KVP in e-mode and Passbook mode from 1st July 2016
- How to transfer NSC from one person to another?
- India Post Help Centre and a Toll-Free Number 1924 features
6 Responses
While thanking you sir for devoting your valuable time in rendering advice on financial matters, i have a clarification:
I HAD OPENED A TD IN CBS POST OFFICE FOR 1 YEAR. I HAD READ IN THE GUIDELINES THAT ‘ WHEN TD MATURES IN CBS PO’S IT WILL BE AUTOMATICALLY RENEWED FOR THE PERIOD FOR WHICH IT WAS INITIALLY OPENED’ WHEN I APPROACHED POST OFFICE AND CLOSED THE TD ACCOUNT SOON AFTER 2 YEARS OF INITIAL OPENING, WITH THE HOPE THAT AUTO RENEWAL WILL TAKE CARE OF THE AMOUNT. TO MY SURPRISE I WAS ONLY ALLOWED 4% SIMPLE INTEREST FOR THE 2ND YEAR, AND ADVISED ME TO HAVE APPROACHED POST OFFICE BEFORE COMPLETION OF 2ND YEAR. IF THIS IS FAIR, WHY AUTO RENEWAL IS STATED IN THEIR RULINGS? FORWARDED FOR EXPERT ADVICE
Dear Abdul,
When it comes to SERVICE, Post Office is a MESS.
Hello sir,
Recently I opened NSC in a post office myself.But after my submission of application, one of the agents reached the counter and was discussing about my NSC as there is some nexus between post office staff and the agent.
How to check whether the staff passed NSC through the agent or directly to me?
Kindly let me know.
Regards
Raj
Dear Raj,
You have all the rights to question and cross-check. If possible directly approach to the Head of that particular post office.
Thank you sir!
Good information.