Govt leaves interest rates on small savings schemes unchanged for Jul-Sept
This story was originally published at 17:49 IST on 30 June 2026
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--Govt leaves interest rates on small savings schemes unchanged for Jul-Sept
NEW DELHI – The rates on all small savings schemes have been left unchanged for the September quarter. The government has not tweaked interest rates on small savings schemes for more than two years now.
The rate of interest on small savings schemes was last increased by 10-20 basis points for the quarter ended Mar. 31, 2024. Between October 2022 and March 2024, the government had increased interest rates on the schemes by 60-160 bps.
The government decides the interest rates on small savings schemes, although any changes to these instruments are expected to be determined by movements in market yields on government securities of similar maturity. Therefore, when market yields on government securities fall, interest rates on small savings schemes should reflect that fall. A spread of 0-100 bps is applied to the market yields to arrive at the small savings interest rates.
In Mar-May, which was the reference period for interest rates on small savings for Jul-Sept, the yield on the 10-year government bond rose 34 bps and the five-year benchmark yield rose 43 bps because of the war in West Asia.
Interest rates on various small savings schemes for Jul-Sept are as follows:
| Instrument | Rate of interest |
| Savings deposit | 4.0 |
| One-year time deposit | 6.9 |
| Two-year time deposit | 7.0 |
| Three-year time deposit | 7.1 |
| Five-year time deposit | 7.5 |
| Five-year recurring deposit | 6.7 |
| Senior citizen savings scheme | 8.2 |
| Monthly income account scheme | 7.4 |
| National Savings Certificate | 7.7 |
| Public Provident Fund scheme | 7.1 |
| Kisan Vikas Patra | 7.5 |
| Sukanya Samriddhi account scheme | 8.2 |
End
Reported by Sagar Sen
Edited by Rajeev Pai
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