India’s Department of Economic Affairs left rates on government-backed small-savings products unchanged for October-December, preserving the 8.2% annual interest rate available through two schemes with different payout and maturity terms.
The department, part of the Ministry of Finance, issued a Sept. 30 memorandum setting the schedule for Oct. 1-Dec. 31, 2026. The notice carries forward the rates in place from July through September. Rates are set on a quarterly schedule, and the notice covers the final three months of the year.
The Senior Citizens Savings Scheme (SCSS) carries an 8.2% annual rate and pays interest every quarter. Sukanya Samriddhi Account (SSA) also offers 8.2%, with interest compounded once a year. India Post’s rules allow an account to be opened for a girl before she turns 10; maturity comes 21 years after opening.
The Public Provident Fund (PPF) rate is 7.1% a year, with annual compounding, while the National Savings Certificate (NSC) is 7.7% and pays interest at maturity after five years. India Post lists PPF’s term as 15 years.
Kisan Vikas Patra (KVP) stands at 7.5% a year and reaches twice its original amount after 115 months. The Post Office Monthly Income Scheme is set at 7.4%, paying interest monthly. India Post lists the five-year recurring deposit at 6.7%; time deposit rates range from 6.9% to 7.5%, based on the selected term.
The payment schedules mean the listed rates do not describe identical cash flows. SCSS pays interest quarterly and the monthly-income option pays each month, while NSC pays at maturity. SSA’s 21-year term also differs from the five-year certificate and PPF’s 15-year term.
The Ministry of Finance says rate terms generally apply to each individual investment, with PPF treated as an exception. A quarterly notice therefore should not be read as automatically changing the rate on every account already open. The notice does not give a date for the next rate review.
