Small savings schemes: PPF, SSY, SCSS, NSC and more

The Ministry of Finance (Department of Economic Affairs) announces small savings interest rates once a quarter, usually on the last working day before the quarter starts. Post offices and authorised banks apply them.

Current quarter: 1 October to 31 December 2026

The DEA memo dated 30 September 2026 says the rates for Q3 FY 2026-27 remain unchanged from Q2. The earlier memos (30 June 2026, 30 March 2026 and 31 December 2025) also kept rates unchanged.

None of these memos prints the rate table, so this page does not list individual rates yet. Needs review. Check the latest rate list at a post office or on the DEA source pages linked below.

The schemes

Scheme	Who it suits	Notes
Public Provident Fund (PPF)	long-term savers	15-year account; yearly deposit cap and tax treatment Needs review
Sukanya Samriddhi Yojana (SSY)	parents of a girl child	opened in the girl’s name Needs review
Senior Citizens Savings Scheme (SCSS)	people aged 60+	interest paid out quarterly Needs review
National Savings Certificate (NSC)	fixed-term savers	interest compounds, paid at maturity
Kisan Vikas Patra (KVP)	anyone	money doubles over a fixed term set by the rate
Post Office Time Deposit, RD, MIS, Savings	everyday savings	bank-like deposits backed by the government

Tax points

• Some schemes count towards the 80C limit under the old regime. See tax on loans, insurance and savings.
• The new regime does not allow 80C. Compare in deductions.
• Whether the interest is taxable depends on the scheme. Needs review

How rates are decided

Rates are meant to track government bond yields of similar maturity, plus a small spread. In practice, the government has often kept them unchanged for several quarters.