Small Savings Interest Rates for October–December 2026 (PPF, SSY, SCSS, NSC, KVP)
India's Ministry of Finance resets the interest rates on post-office small savings schemes every quarter. These are the rates notified for October–December 2026. They apply to new deposits made this quarter; PPF and SSY balances earn whatever the current quarter's rate is, while NSC, KVP, SCSS, MIS and time deposits lock in the rate on the day you invest.
This quarter's rates
| Scheme | Rate (Oct–Dec 2026) | Compounding / payout | Limit | Tax |
|---|---|---|---|---|
| Public Provident Fund (PPF) | 7.1% | Yearly | ₹500–₹1.5 lakh a year, 15 years | EEE (old regime 80C) |
| Sukanya Samriddhi (SSY) | 8.2% | Yearly | ₹250–₹1.5 lakh a year for 15 years; matures at 21 | EEE (old regime 80C) |
| Senior Citizens' Savings (SCSS) | 8.2% | Paid quarterly | Up to ₹30 lakh, 5 years | Interest taxable |
| National Savings Certificate (NSC) | 7.7% | Yearly, paid at maturity | No limit, 5 years | 80C on deposit; interest taxable |
| Kisan Vikas Patra (KVP) | 7.5% | Doubles in 115 months | No limit | Interest taxable |
| Monthly Income Scheme (MIS) | 7.4% | Paid monthly | ₹9 lakh single / ₹15 lakh joint | Interest taxable |
| 5-year Recurring Deposit | 6.7% | Quarterly | From ₹100 a month | Interest taxable |
| Post office savings account | 4.0% | Yearly | — | 80TTA/TTB |
What your money becomes
These figures assume this quarter's rate holds for the whole term. PPF and SSY rates can change every quarter, so treat them as estimates.
- PPF, ₹1.5 lakh at the start of every year for 15 years at 7.1%: about ₹40.68 lakh at maturity on ₹22.5 lakh invested — and every rupee is tax-free.
- SSY, ₹1.5 lakh a year for 15 years, maturing at 21 years at 8.2%: about ₹71.8 lakh.
- SCSS, ₹30 lakh at 8.2%: ₹61,500 every quarter, about ₹20,500 a month.
- NSC, ₹1 lakh for 5 years at 7.7%: about ₹1,44,903 at maturity.
- MIS, ₹9 lakh single account at 7.4%: ₹5,550 a month (₹9,250 a month on a ₹15 lakh joint account).
- KVP: doubles your money in 115 months (9 years 7 months), equivalent to about 7.5% a year compounded.
Run your own amounts with the PPF calculator, the RD calculator or the FD calculator.
Which scheme for which goal
- Long-term, tax-free saving: PPF — 15 years, partial withdrawals from year 7, and fully tax-free returns.
- A daughter's education or marriage: SSY pays the highest rate of any small-savings scheme for a long-term goal; the account matures at 21 years.
- Regular retirement income: SCSS for people aged 60 and above (55 for some retirees), then MIS for extra monthly income.
- Fixed five-year saving: NSC — the 80C benefit matters only under the old tax regime (see our regime guide).
Versus bank FDs
After the RBI raised the repo rate to 5.50% in October 2026, large banks offer roughly 6–7% on fixed deposits. SBI's 2–3 year retail rate is 6.45%, and senior citizens get 0.5% more. Small savings schemes still pay more for most terms and carry a sovereign guarantee, but FDs are more flexible on tenure and premature withdrawal. Compare the two after tax: with India's inflation at 5.54% in September 2026, a 7% taxable return in the 30% slab is a small real loss. Tax-free PPF and SSY are the strongest options for people in higher brackets.
Rates are as notified for October–December 2026 and change quarterly. Check India Post or your bank before investing. This is general information, not financial advice.