Post Office Interest rates (revised) for the period 01.04.2020 to 30.06.2020
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Government of India, Postal Department savings and returns as per the
interest rates (revised) for the period 01.04.2020 to 30.06.2020.
| Post office investment Schemes |
interest rates in % |
Minimum/Maximum Deposit Amount in Rs. |
Returns in Rs. (Approximately) |
Remarks |
| SB Account (SB) |
4% | Min Rs.500 Max No limit |
No maturity period. Every year Interest will be paid as per their savings. |
Mobile Banking, Intranet Banking, ATM facility available. Can withdraw from bank ATM too. No service charge for PO ATM withdrawal. Free SMS service. Interest upto Rs.10000 tax free |
| RD Account (RD) 5Years |
5.8% Quarterly Compound |
Monthly Min Rs.100. Multiples of Rs.10/- Maximum No Limit |
For Monthly Rs.1,000 investment, total deposit Rs.60000, Maturity amount is Rs.69697 |
Monthly Recurring Deposit. After 3 years Premature closure is allowed with SB interest. After one year Loan is admissible @ 50% savings |
| Monthly Income Scheme (MIS) 5 Years | 6.6% Monthly and paid |
Min.Rs.1000/- Multiples of Rs.1000/- Maximum Rs.4.5 lakh for single Rs.9 lakhs for joint |
For Rs.1,00,000/- Monthly interest Rs.550. Total Maturity value Rs.1,33,000. |
Monthly interest can be withdrawn. After 1 or 3 years premature closure is allowed with 2% or 1% deduction. |
| 1 Year Time Deposit(Fixed deposit) |
5.5% (quarterly compound) |
Min Rs.1000/- Multiples of Rs.100/ Maximum No limit |
For Rs.1,00,000 investment Maturity amount Rs.1,,05,614 |
Can be closed prematurely after 6 months with SB rate of interest. |
| 2 Years Time Deposit(Fixed deposit) |
5.5% (quarterly compound) |
Min Rs.1000/- Multiples of Rs.100/ Maximum No limit |
For Rs. 1,00,000 investment Maturity amount Rs.1,11,228. |
Yearly interest Rs.5,614. Can be closed prematurely after 6 months with SB interest |
| 3 Years Time Deposit(Fixed deposit) |
5.5% (quarterly compound) |
Min Rs.1000/- Multiples of Rs.100/ Maximum No limit |
For Rs. 1,00,000 investment Maturity amount Rs.1,16,842. |
Yearly interest Rs.5,614 Can be closed prematurely after 6 months with SB interest |
| 5 Years Time Deposit(Fixed deposit) |
6.7% (quarterly compound) |
Min Rs.1000/- Multiples of Rs.100/ Maximum No limit |
For Rs.1,00,000 investment Maturity amount Rs.1,34,350. |
Yearly interest Rs.6,870/-. Can be closed prematurely after 6 months with SB interest. Can claim IT exemption under 80C |
| Senior Citizen Scheme (5 years) | 7.4% quarterly and paid |
Minimum Rs.1000/- Multiples of Rs.1000/- Maximum Rs.15 lakhs |
For Rs.1 lakh Rs.1850 interest for every 3 months. Maturity value Rs.1,37,000. Can be closed prematurely <1 year, no interest, 1 to 2yrs 1.5% After 2 to 5 yrs 1% deduction |
For retired defence personnels, age 50 & Above, Retired Other Superannuation personnels, age 55 & above other citizens age 60 and above can open SCSS A/Cs. Can claim IT exemption under 80c. Interest Upto Rs.50000 tax free |
| Sukanya Samridhi Account (21 years)
For girl child |
7.6% | A/C opening Minimum Rs.250/- Deposit Multiples of Rs.50. For Financial Year Min. Rs.250/- Maximum Rs.1.5 lakhs |
If monthly contribution is Rs 1000/- for 15 years total contribution is 1,80,000/- Maturity value would be approximately Rs515900. for 7.6% interest after 21 years period. |
Depositing period 15 years. Maturity period 21 years or else after marriage. Can withdraw 50% amount after 10std of girl child studies. New schemeNew Scheme launched by the Govt. of India to the welfare of the girl children. Can claim IT exemption under 80c |
| PPF Period 15 years, can be opened for boy child also |
7.1 % | Minimum Rs.500/- Deposit Multiples of Rs.50. Maximum Rs.1.5 lakhs for the F.Y |
If monthly contribution is Rs1,000/ for 15 years total contribution is 1,80,000/-Maturity amount is Rs.3,15,572. (approx)for 7.1% interest |
For recurring Savings and Can claim IT exemption under 80c |
| Kisan Vikas Patra (KVP)10 yrs 4 months |
6.9 % | Minimum Rs.1000/ Multiples of Rs.100/- Maximum No limit |
For 1 lakh investment, maturity Rs.2 Lakhs |
Investment will be doubled in 124 months |
| National Savings Certificate (NSC)5 years |
6.8% (Annually compound interest) |
Minimum Rs.1000/ Multiples of Rs.100/- Maximum No limit |
For Rs.1,00,000 Maturity amount Rs.1,38,950. |
For fixed deposit. Can Claim IT exemption under 80C |
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interest rates Compiled by Shri. K.Kalimuthu, HSG II, Deputy Post Master, General Secretary, All India Association of Postal Supervisors, TNagar Head Post office, Chennai 600017
