govt schemes
Government leaves interest rates on small savings schemes unchanged for Oct-Dec
This story was originally published at 19:31 IST on 30 September 2026
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--Govt leaves interest rates on small savings schemes unchanged for Oct-Dec
NEW DELHI – The government has left interest rates on all small savings schemes unchanged for Oct-Dec. The interest rates on small savings schemes have not been tweaked for two and a half 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.
Interest rates on small savings schemes are decided by the government, although any changes to them are expected to be determined by movements in market yields on government securities of similar maturity. Therefore, when market yields on government securities decline, interest rates on small savings schemes should fall. A spread of 0-100 bps is applied to the market yields to arrive at the small savings interest rates.
In Jun-Aug, which was the reference period for interest rates on small savings for Oct-Dec, the yield on the 10-year government bond fell 6 bps and the five-year benchmark yield fell by 7 bps.
Interest rates on various small savings schemes for Oct-Dec 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 Priyasmita Dutta
Edited by Himanshi Gupta
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