Post Office Saving Schemes Complete Guide
A detailed guide to all Post Office Saving Schemes – interest rates, features, eligibility, tax benefits and how to open accounts in India Post.
What Are Post Office Saving Schemes?
Post Office Saving Schemes are government-backed financial products offered by India Post. They are some of the safest investment options in India, known for:
- Guaranteed returns
- Attractive interest rates
- Long-term stability
- Low risk (100% government backed)
- Easy to open and operate through post offices
Latest Interest Rates (2024–2025)
| Scheme | Interest Rate | Lock-in / Tenure |
|---|---|---|
| Savings Account | 4.0% | No lock-in |
| Recurring Deposit (RD) | 6.7% | 5 years |
| Time Deposit – 1 Year | 6.9% | 1 year |
| Time Deposit – 5 Years | 7.5% | 5 years |
| Monthly Income Scheme (MIS) | 7.4% | 5 years |
| Senior Citizens Savings Scheme (SCSS) | 8.2% | 5 years |
| PPF (Public Provident Fund) | 7.1% | 15 years |
| NSC (National Savings Certificate) | 7.7% | 5 years |
| Kisan Vikas Patra (KVP) | 7.5% | Maturity in ~115 months |
1. Public Provident Fund (PPF)
One of India’s most popular tax-saving schemes with EEE benefits.
- Interest: 7.1%
- Lock-in: 15 years
- Tax benefit under Section 80C
- Loan and partial withdrawal allowed
2. Monthly Income Scheme (MIS)
Gives guaranteed monthly interest income.
- Interest: 7.4%
- Tenure: 5 years
- Ideal for retirees and stable income seekers
3. Senior Citizens Savings Scheme (SCSS)
Best for senior citizens with high interest rate.
- Interest: 8.2%
- Lock-in: 5 years
- Quarterly interest payout
4. National Savings Certificate (NSC)
Safe investment with guaranteed returns.
- Interest: 7.7%
- Lock-in: 5 years
- Eligible for Section 80C tax benefit
5. Recurring Deposit (RD)
Perfect for disciplined monthly savings.
- Interest: 6.7%
- Tenure: 5 years
- Quarterly compounding
6. Time Deposits (Fixed Deposits)
Choose between 1, 2, 3 or 5 years.
- Interest up to 7.5%
- Safe, guaranteed returns
- Annual compounding
7. Kisan Vikas Patra (KVP)
Doubles money in approximately 115 months.
- Interest: 7.5%
- Guaranteed maturity
- No tax benefit
How to Open a Post Office Savings Scheme?
Option 1 – Visit Post Office
Carry ID proof, address proof, and passport-size photograph.
Option 2 – Open Online (Available for selected schemes)
You can use the India Post internet banking portal (for PPF, RD, MIS etc.).