Small savings interest rates for October to December 2026

Rules for FY 2026-27 · Checked 24 October 2026

Short answer

The government left all small savings rates unchanged for October to December 2026. Sukanya Samriddhi and SCSS pay the most at 8.2%, NSC pays 7.7%, and PPF stays at 7.1%.

Current rates

SchemeRate a yearTermTax on interest
Post office savings account4.0%–Taxable, with small exemptions
1-year time deposit6.9%1 yearTaxable
2-year time deposit7.0%2 yearsTaxable
3-year time deposit7.1%3 yearsTaxable
5-year time deposit7.5%5 yearsTaxable; deposit counts for 80C
5-year recurring deposit6.7%5 yearsTaxable
Senior Citizens Savings Scheme8.2%5 years (+3)Taxable; deposit counts for 80C
Monthly Income Scheme7.4%5 yearsTaxable
National Savings Certificate7.7%5 yearsTaxable; deposit counts for 80C
Kisan Vikas Patra7.5%Doubles in 115 monthsTaxable
Public Provident Fund7.1%15 yearsTax-free
Sukanya Samriddhi8.2%21 yearsTax-free

80C benefits apply only in the old tax regime. Rates are set by the Finance Ministry every quarter.

Does a rate change affect my existing deposit?

No for time deposits, RD, NSC, KVP, MIS and SCSS: the rate on the day you invest stays for the whole term.

Yes for PPF, Sukanya Samriddhi and the savings account: every quarter’s new rate applies to your whole balance.

Which scheme suits whom

  • Parents of a girl under 10: Sukanya Samriddhi, the highest tax-free rate.
  • Retired people over 60: SCSS for regular quarterly income (up to ₹30 lakh), and MIS for monthly income (up to ₹9 lakh single, ₹15 lakh joint).
  • Long-term, tax-free saving: PPF.
  • Fixed 5-year saving with 80C: NSC or the 5-year time deposit.

Frequently asked questions

When are small savings rates revised?

Every quarter. The Finance Ministry announces the next quarter’s rates near the end of March, June, September and December.

Are post office schemes safe?

Yes. They are backed by the Government of India.

Is post office FD better than a bank FD?

Post office time deposits often pay as much as or more than big banks, and have government backing. Bank FDs can be more convenient and some small banks pay more.

Sources: National Savings Institute, India Post, Department of Economic Affairs