Public Provident Fund vs Sukanya Samriddhi Yojana vs Post Office Fixed Deposit: Latest interest rates compared

Saving is a vital part of life, whether for retirement or building an emergency fund. There are many excellent ways to increase your savings and make wise investments. Public Provident Funds (PPF), Sukanya Samriddhi Yojana ( SSY), and fixed deposits (FD) are well-liked investment vehicles. People can open a PPF or FD account with a bank or the post office.

Each provides distinct features, advantages, and interest rates to meet various requirements. Here, we compare the most recent interest rates for Post Office Fixed Deposits, Sukanya Samriddhi Yojana, and PPF.

Public Provident Fund latest interest rates

PPF interest rates have remained unchanged since April 2020. Notably, the government reviews the interest rates on small savings schemes every quarter. At present, PPF offers an interest rate of 7.1 per cent.

Sukanya Samriddhi Yojana latest interest rates

Sukanya Samriddhi account is a popular savings option for Indian parents of daughters. It offers tax-free profits guaranteed by the government. Sukanya Samriddhi Yojana interest rate at the moment is 8.2%.

Post Office Fixed Deposit's latest interest rates

The post office time deposit or fixed deposit is similar to bank FDs. It provides a guaranteed return to the depositor who deposits an amount for a fixed period.

Post Office Time Deposit (1 year)- 6.9%

Post Office Time Deposit (2 years)- 7%

Post Office Time Deposit (3 years)-7.1%

Post Office Time Deposit (5 years)-7.5 %

The government left the interest rates on various small savings schemes, including PPF and NSC, unchanged for the third straight quarter beginning October 1, 2024.

"The rates of interest on various small savings schemes for the third quarter of FY 2024-25, starting from October 1, 2024, and ending on December 31, 2024, shall remain unchanged from those notified for the second quarter (July 1, 2024, to September 30, 2024) of FY 2024-25," said a finance ministry notification.

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