Investors seeking fixed-income investing opportunities have several possibilities. The most popular is fixed deposits. There are, however, alternative possibilities, such as modest savings plans such as public provident funds, national savings certificates, and post office deposits, which provide set returns and are supported by the government. Below we have mentioned the interest rates on bank FDs and small savings programs.
Latest Interest Rates On Small Savings Schemes
The interest rates for the current quarter October-December 2023 are as follows:
| Small Savings Schemes | Interest Rate |
| Savings Deposit | 4 per cent |
| 1-Year Post Office Time Deposits | 6.9 per cent |
| 2-Year Post Office Time Deposits | 7.0 per cent |
| 3-Year Post Office Time Deposits | 7 per cent |
| 5-Year Post Office Time Deposits | 7.5 per cent |
| 5-Year Recurring Deposits | 6.7 per cent |
| National Saving Certificates (NSC) | 7.7 per cent |
| Kisan Vikas Patra | 7.5 per cent |
| Public Provident Fund | 7.1 per cent |
| Sukanya Samriddhi Account | 8.0 per cent |
| Senior Citizens Savings Scheme | 8.2 per cent |
| Monthly Income Account | 7.4 per cent |
Latest Interest Rates On Bank FD
Among the main banks, HDFC Bank offers FD interest rates of up to 7.75 per cent, depending on deposit duration and depositor age. PNB offers FD rates of up to 7.75 per cent per year, whereas SBI offers rates of up to 7.50 per cent per year.
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