Post Office Saving schemes: Check interest rates and more details

India Post introduced the list Post Office Saving Schemes and more details available at The most significant aspect of these schemes is that they are backed by the government. That is to say, your funds will not be lost. We’re going to inform you about the post office and all of their savings plans, as well as how long it will take for your money to double if you invest in these plans. Please tell us about the post office’s savings plans and their interest rates.

Under the Post Office Savings Scheme, if an individual is planning to make an investment must be aware of the 15-year Public Provident Fund Account (PPF) at India Post. One can get a good return on this scheme as it offers 7.1 per cent interest per annum (compounded yearly). In case of further details, the interested individuals can login to the official website of India Post at

The interested individuals must note that one can invest from Rs 500 to Rs 1,50,000 in a financial year for this PPF and the deposits can be made in lump sum or investments. Any adult who is an Indian citizen can open this PPF account. In case of a minor or someone who is not of sound mind, the guardian is allowed to open this account.

Post Office Saving schemes
Name of SchemePost Office Savings Scheme
TitleCheck the list of Post Office Savings Schemes
SubjectIndia Post introduced List of Post Office Saving Schemes
Post Office Savings Scheme PortalPost Office Savings Scheme Web Portal
List of Post Office Savings Schemes

The interested individuals must also remember that under Section 80C of the Income Tax Act, one can benefit from a tax exemption on the PPF account. The interest and maturity income earned in this account is tax-free as well.

Upon the maturity of this account, there are certain options that a depositor can resort to. They are as follows:

  • Can take maturity payment by submitting account closure form along with passbook at concerned Post Office
  • Can retain maturity value in his/her account further without deposit, the PPF interest rate will be applicable and payment can be taken any time or can take 1 withdrawal in each FY.
  • Can extend his/her account for further block of 5 years and so on (within one years of maturity) by submitting prescribed extension form at concerned Post Office.

Now, in case of withdrawals, the interested individuals must know these following points:

  • A subscriber can take 1 withdrawal during a financial after five years excluding year of account opening.
  • Amount of withdrawal can be taken up to 50 per cent of balance at the credit at the end of 4th preceding year or at the end of preceding year, whichever is lower.
  • In case of further details, the interested individuals can login to the official website of India Post at

Post Office Interest Rates 2021

SchemeInterest Rate (% p.a )TenureBest for
Post Office Savings Account4.00NASmall savings
5-Year Post Office Recurring Deposit Account (RD)5.80Five yearsSmall savings
Post Office Time Deposit Account (TD)5.51, 2, 3 and 5 yearsSmall savings
Post Office Monthly Income Scheme Account (MIS)6.6Five yearsSmall savings
Senior Citizen Savings Scheme (SCSS)7.40Five yearsRetirement
Public Provident Fund Account (PPF)7.1015 yearsRisk-averse investors
National Savings Certificate6.80Five yearsRisk-averse investors
Kisan Vikas Patra (KVP)6.90Lockin 30 monthsSmall savings
Sukanya Samriddhi Accounts (SSA)7.6021 yearsGirl child
Post Office Interest Rates 2021

List of Post office schemes

The Post Office Saving Schemes include several products that offer reliability and risk-free returns on investment. These schemes are operated via 1.54 lakh post offices spread all over the country. For example, the PPF scheme PPF is operated via 8200 branches of public sector banks in addition to the post offices in each city. Savings schemes under Post Office investments 

  • Post Office Time Deposit: A one-year to three-year Post Office Time Deposit (TD) now pays 5.5 percent interest. Your money will double in around 13 years if you invest in this. Similarly, a 5-year time deposit pays 6.7 percent interest. If you invest your money at this pace, your money will double in around 10.75 years.
  • Post Office Savings Bank Account: You may have to wait a long time for your money to double if you store it in a post office savings account. Because there is only a 4.0 percent interest rate available, your money will double in 18 years.
  • Post Office Recurring Deposit: The current rate of interest on Post Office Recurring Deposits (RD) is 5.8%, which means that if the money is invested at this rate, it will double in around 12.41 years.
  • Post Office Monthly Income Scheme: The interest rate on the Post Office Monthly Income Scheme (MIS) is currently 6.6 percent; if money is invested at this rate, it will double in around 10.91 years. 
  • Post Office Senior Citizens Savings Scheme: The interest rate on the Post Office Senior Citizen Savings Scheme (SCSS) is now 7.4 percent. In 9.73 years, your money will have doubled in this strategy.
  • Post Office PPF: The Post Office’s 15-year Public Provident Fund (PPF) is now earning 7.1 percent interest. At this rate, it will take approximately 10.14 years to double your money. 
  • Post Office Sukanya Samriddhi Account: The Sukanya Samriddhi Account (SSA) scheme at the post office currently has the highest interest rate of 7.6%. It will take around 9.47 years to double the money in this strategy for girls. 
  • Post Office National Saving Certificate: The National Saving Certificate (NSC) of the Post Office now pays 6.8% interest. This is a 5-year savings plan that also allows you to save money on taxes by investing. If you invest at this pace, your money will double in around 10.59 years. 
  • Post Office Kisan Vikas Patra: In the Kisan Vikas Patra (KVP) scheme of the post office, 6.9% interest is currently being paid. With this rate of return, the money you put in here will double in 124 months (10 years and 4 months).

Advantages of the Post Office Saving Schemes 

Easy to invest: The saving schemes are easy to enroll and are best suited for both rural and urban investors. Anyone who wants to hedge risk in the portfolio for a fixed decent return can invest in these schemes. The simplicity and availability make these investment options a much-preferred savings cum investment option.

Documentation and procedures: Limited documentation and proper procedures in post office ensure that these saving schemes are simple to opt for and safe to be locked onto as the government backs them.

Investments in the Post Office Schemes: The investments in the Post Office Schemes are more forward-looking and long-term oriented with the investment period extending up to 15 years for a PPF account. Therefore, these investment options are an excellent option for retirement and pension planning.

Tax exemption: Most of these schemes are eligible for tax rebates under Section 80C for the deposit amount. Few of the schemes like the PPF, the Sukanya Samriddhi Yojana, etc. also have the interest earned amount exempted from taxation.

Interest Rates: Interest rates in these schemes range from 4% to 9%, which is also risk-free. There is a minimal amount of risk involved, as the Government of India undertakes these investment options.

There is a wide range of products based on different types of individuals. Public Provident Fund (PPF), Kisan Vikas Patra and Sukanya Samriddhi Yojana are some of the more well-known schemes. The government has made these small savings schemes available via post offices to provide a safe investment avenue for the public. By providing them with good returns and keeping their investments safe, these schemes are easy to manage. If the features and benefits iterated above meet your financial goals, then invest in a post office savings scheme to secure your financial future at minimal risk.

How to open a Post Office Saving Schemes Account?

Post Office Saving Schemes are suitable for individuals with a low-risk appetite. The returns from these schemes are not prone to market fluctuations making it the suitable products for risk-averse investors who still wish to make the most of their savings.

(A) Open on Online: You can open a recurring deposit or term deposit account online through the mobile app.

  • Download and log into the India Post Mobile Banking app on your mobile from Google Play Store.
  • Upon successful login, select the ‘Requests’ tab on the home screen to open a POFD account.
  • Enter the details, such as the deposit amount, tenure, the account from which you want to deposit the money, nominee, and others to open the account.

(B) Open on Offline: For opening an account under any other Post Office Saving Schemes, you need to visit the home branch of the Post Office.

  • Download and print the relevant application form from the Post Office’s official website,
  • Attach all the necessary documents.
  • Visit your home branch of the Post Office and submit the documentation to the relevant personnel.

Documents Required for Post Office Saving Schemes Account

  • Account Opening Form
  • KYC Form (For new customer/modification in KYC details))
  • PAN Card
  • Aadhaar card, if Aadhaar is not made available the following document may be submitted.
    • Passport
    • Driving license
    • Voter’s ID card
    • Job card issued by MNREGA signed by the State Government officer
    • Letter issued by the National Population Register containing details of name and address.
  • Proof of date of birth/birth certificate in case of a minor account.

*Disclaimer: We have published the above information for reference Purpose only, For any changes on the content we refer to visit the Official website to get the latest & Official details, and we are not responsible for anything

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