PPF, SSY, SCSS, NSC Interest Rates for October to December 2026: Full List, Explained

Every quarter, the government decides how much interest you earn on PPF, Sukanya Samriddhi, Senior Citizens Savings Scheme, NSC and other post office schemes. For October to December 2026, the answer is: no change. Here is the full list, and what it means now that the RBI has started raising rates.

A quick note: this is an explainer, not investment advice.

The 60-second version

• Rates: Unchanged for Q3 FY 2026-27 (1 October to 31 December 2026).
• PPF: 7.1%.
• SSY and SCSS: 8.2%, the highest among the schemes.
• NSC: 7.7%.
• Context: The RBI raised the repo rate to 5.50% on 7 October, after these rates were set.
• Next review: Before 1 January 2027.

Full list of small savings interest rates (Oct to Dec 2026)

Scheme	Interest rate (p.a.)	Tenure	Interest
Post Office Savings Account	4.0%	Ongoing	Annual
Time Deposit, 1 year	6.9%	1 year	Quarterly compounding
Time Deposit, 2 years	7.0%	2 years	Quarterly compounding
Time Deposit, 3 years	7.1%	3 years	Quarterly compounding
Time Deposit, 5 years	7.5%	5 years	Quarterly compounding
Recurring Deposit, 5 years	6.7%	5 years	Quarterly compounding
Senior Citizens Savings Scheme (SCSS)	8.2%	5 years	Paid quarterly
Monthly Income Scheme (MIS)	7.4%	5 years	Paid monthly
National Savings Certificate (NSC)	7.7%	5 years	Paid at maturity
Public Provident Fund (PPF)	7.1%	15 years	Compounded yearly
Kisan Vikas Patra (KVP)	7.5%	Doubles in 115 months	Paid at maturity
Sukanya Samriddhi Yojana (SSY)	8.2%	21 years	Compounded yearly

Why rates did not change

The Finance Ministry announced the Q3 rates around 30 September 2026, about a week before the RBI's 7 October decision to raise the repo rate by 25 basis points to 5.50 percent. Small savings rates are linked, with a lag, to government bond yields. If yields keep rising after the RBI's shift to "calibrated tightening", savers could see a case for higher rates in the January 2027 review, though the government is not bound to raise them.

PPF in particular has been held at 7.1 percent for several years running.

Which scheme suits whom

• Parents of a girl child: Sukanya Samriddhi (8.2%) offers the highest rate, tax benefits under the old regime, and tax-free maturity.
• Retirees: SCSS (8.2%) pays interest every quarter, useful for regular income. MIS (7.4%) pays monthly.
• Long-term, tax-free savings: PPF (7.1%) has a 15-year lock-in, but interest and maturity are tax-free.
• Fixed five-year savings: NSC (7.7%) and the 5-year Time Deposit (7.5%) are simple, government-backed options.
• Doubling your money: KVP (7.5%) doubles your investment in 115 months.

Remember that tax treatment differs: interest on schemes like NSC, Time Deposits and SCSS is taxable, while PPF and SSY are tax-free.

What to watch next

1. The January 2027 review, announced around 31 December 2026.
2. Government bond yields, which guide the rate formula.
3. Bank FD rates, which may rise after the RBI hike and compete with small savings.

---

This article is for information only and is not investment advice. Rates are as notified for the October to December 2026 quarter and reported publicly.