Small Savings Interest Rates Oct–Dec 2026: PPF 7.1%, SSY 8.2% Unchanged
Small savings interest rates for October–December 2026 are unchanged: PPF 7.1%, NSC 7.7%, SSY and SCSS 8.2%. Full table and what it means for you.
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The government has kept small savings interest rates unchanged for October to December 2026. So PPF stays at 7.1%, NSC at 7.7%, and Sukanya Samriddhi and the Senior Citizens Savings Scheme at 8.2%. Here is the full rate table, what it means for your money, and whether now is a good time to lock in.
Key takeaways
- Small savings interest rates are unchanged for the October–December 2026 quarter.
- Sukanya Samriddhi and SCSS stay the top earners at 8.2%; PPF stays at 7.1% tax-free.
- Bank FD rates have been easing, so locked-in small savings rates look relatively attractive.
- The next review is due at the end of December for January–March 2027.
Small savings interest rates: full table
| Scheme | Small savings interest rates (Oct–Dec 2026) | Lock-in / tenure | Tax on interest |
|---|---|---|---|
| Sukanya Samriddhi Yojana | 8.2% | Till the girl turns 21 | Tax-free |
| Senior Citizens Savings Scheme | 8.2% | 5 years | Taxable |
| National Savings Certificate | 7.7% | 5 years | Taxable (among the highest small savings interest rates for 5 years) |
| Kisan Vikas Patra | 7.5% (doubles in 115 months) | 115 months | Taxable |
| 5-year post office time deposit | 7.5% | 5 years | Taxable |
| Monthly Income Scheme | 7.4% | 5 years | Taxable |
| Public Provident Fund | 7.1% | 15 years | Tax-free (one of the best small savings interest rates after tax) |
| 3-year time deposit | 7.1% | 3 years | Taxable |
| 2-year time deposit | 7.0% | 2 years | Taxable |
| 1-year time deposit | 6.9% | 1 year | Taxable |
| 5-year recurring deposit | 6.7% | 5 years | Taxable |
| Post office savings account | 4.0% | None | Taxable above limits |
Why small savings interest rates did not change
In fact, the government reviews small savings interest rates every quarter, broadly in line with government bond yields. This time, it chose to hold them steady, as it has for several quarters in a row. Meanwhile, many banks have trimmed their FD rates after recent cuts in the RBI repo rate. As a result, schemes like NSC and SCSS now pay more than most large banks’ 5-year FDs.
What it means for you
If you invest in PPF
First, PPF’s 7.1% is tax-free, which works out to a pre-tax return above 10% for someone in the 30% slab. However, since PPF rates can change every quarter, your whole balance earns whatever rate applies at the time. Check your growth with our PPF calculator.
If you are a senior citizen
For seniors, SCSS locks in 8.2% for 5 years, paid every quarter. Unlike PPF, the rate stays fixed for your deposit’s full term. So if you expect rates to fall later, investing now locks in today’s rate.
If you have a daughter
Sukanya Samriddhi remains one of the best safe options at 8.2% tax-free, with a deduction under the old regime’s 80C limit too. See all options in our 80C deductions guide.
Small savings interest rates vs bank FDs
For a 5-year lock-in, the post office time deposit (7.5%) and NSC (7.7%) currently beat most big-bank FDs. However, bank FDs offer more flexibility on tenure and premature withdrawal. Also, small finance banks often pay more, though with a smaller safety cushion. Compare both with our FD calculator.
Good to know: Interest on NSC, SCSS, KVP, time deposits and RDs is taxable at your slab rate. Only PPF and Sukanya Samriddhi give fully tax-free interest.
Should you invest now?
- For fixed-rate schemes (NSC, SCSS, time deposits): investing now locks today’s rate for the full term, which helps if rates fall later.
- For PPF and Sukanya Samriddhi: timing matters less, because the rate resets every quarter for your whole balance. Instead, invest early in the financial year to earn interest for more months.
- For short-term money: keep it in a savings account or a short FD, not in long lock-ins.
Finally, you can read the official notification on the National Savings Institute website, and current repo rate decisions on the RBI website.
Frequently asked questions
What are the small savings interest rates for October–December 2026?
PPF 7.1%, NSC 7.7%, Sukanya Samriddhi and SCSS 8.2%, KVP and 5-year time deposit 7.5%, MIS 7.4%, 5-year RD 6.7% and the savings account 4%.
Did the PPF rate change in October 2026?
No. The PPF rate stays at 7.1% for the October–December 2026 quarter.
Which small savings scheme pays the highest interest?
Sukanya Samriddhi Yojana and the Senior Citizens Savings Scheme, both at 8.2%.
When will small savings interest rates be revised next?
The government reviews them every quarter. The next announcement is due around the end of December 2026 for January–March 2027.
Sources: National Savings Institute · Business Today, 30 Sep 2026. Last checked 21 October 2026. Figures are estimates for guidance, not tax or financial advice.
This guide is for information only and isn’t financial advice. Rates, fees and rules change — always confirm on the official website before you decide. Read our disclaimer.