What Is The Post Office Interest Rate In 2023 | Interest rates of All Schemes

Post Office Interest Rate In 2023

As you all know that many types of investment and saving schemes are run inside the post office by the Indian government.

Short-term and long-term investment saving schemes are run with a lot of growth, in which you can invest your money.

Such as Post Office Savings Account, Recurring Deposit, Term Deposit, MIS, Senior Citizen Saving Scheme, Sukanya Samriddhi Yojana, National Saving Certificate, as many small savings schemes as there are.

The interest rate of all these is decided by the government and it is also reviewed on a quarterly basis. Post Office Interest Rate In 2022

If the government feels that it should be reduced or increased or the same should be continued, or government changes it on a quarterly basis and on 31 March 2022, whatever is the interest rate of the post office’s small savings scheme from the government.

A notification has been issued regarding this, in which it has been mentioned that what will be the interest rate of all the small saving schemes of the post office from 1st April 2022 to 30th June 2022. Whether the interest rate has increased or decreased or is it the same, Post Office Interest Rate In 2022

Notification for interest rate

The notification has been issued by the Finance Ministry, Government of India Economic Affairs on 31 March 2022.

It is written in the Revision of Interest Rate for Small Saving Schemes that the interest rate for various small saving schemes for the first quarter of the financial year 2022-23 will start from 1st April, 2022 to 30th June 2022.

The interest rate will not change. The same has been continued, neither the interest rates have come down nor have they increased.

first of all let’s see, What are the interest rates of all these schemes :

National Savings Recurring Deposit :

Here you have to make some contribution every month like you can open an account for 100 rs per month and have a five-year investment plan.

You will have to deposit money for five years and after five years you will get your money in full with interest, the interest rate which is 5.8% is going to be from 1st April 2022. Post Office Interest Rate In 2022

National Savings Time Deposit :

This is also like a bank FD, here you can get your account opened with 1000 rupees and the interest will be paid to you every year.

Here you can get the account opened for one year, two years, three years, five years and if you open the account for one, two and three years, then the interest rate will be 5.5%.

On the other hand, if you open it for five years, then the interest rate is going to be 6.7%.

Monthly Income Scheme (MIS) :

Post Office MIS Scheme, Here also you get income on monthly basis. That is, you have to deposit money together and every month whatever interest is there, it will be paid to you and you get back the money which is on maturity.

With 1000rs you can get your account opened. The maximum limit given here is ₹ 4.5 lakh, the maximum a person can deposit is ₹ 4.5 lakh only.

If two persons jointly open a joint account, then ₹ 9 lakh can be deposited in it. The total interest that will be received in this will be 6.6%.

Senior Citizen Saving Scheme:

Here you have to deposit the money all at once and whatever interest is there on it on a quarterly basis is paid out to you. Post Office Interest Rate In 2022

Here you can get your account opened with 1000 rs. The maximum limit is ₹ 15 lakh and the interest rate on it is 7.4%.

Sukanya Samriddhi Yojana :

Here you can get the account opened for any girl child. In a year, the minimum contribution has to be made of 250 ₹ every year and the maximum limit is 1.5 lakh rupees.

You can deposit it for 15 years and you will get 7.6% interest on it. In all these schemes, the highest interest rate is available in this scheme.

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Public provident fund :

That is, if you open your account in a PPF account, then you will have to get the account opened with a minimum of ₹ 500 and it has to be maintained for 15 years.

The maximum limit is 1.5 lakh rupees, although there is no maximum limit, now if you deposit more than 1.5 lakh, then you do not get interest on it, then no sense is made to deposit more than 1.5 lakh and the interest rate is 7.1 %

National savings certificate :

NSC Here you have to purchase the National Saving Certificate, which you can purchase for any amount. The minimum starts from 1000 ₹.Post Office Interest Rate In 2022

You have to hold it for five years and after five years you will get the amount you had purchased plus whatever interest you have earned on it, you will get it on maturity and the interest rate is 6.8% applicable on it.

Kisan Vikas Patra :

KVP, now that farmer’s name has come in it, it does not mean that this scheme is only for farmers, anyone can get their account opened in it, and invest money.

The account can be opened with a minimum of Rs 1000. It is a one-time deposit and has a maturity period, till the amount you have deposited does not double and the interest rate is 6.9%. Post Office Interest Rate In 2022

But on the basis of 6.9 percent, your money will be deposited till this money is not doubled.

Post office savings account :

You can get the account opened by depositing ₹ 500 here and you are going to get an interstate of four percent.