The government has revised the interest rate on post office time deposit schemes while leaving rates of other popular small savings schemes like the PPF (Public Provident Fund), Sukanya Samriddhi account and Senior Citizen Savings schemes unchanged. Interest rates of small savings schemes are currently revised on a quarterly basis. The Finance Ministry, in a notification dated December 31, 2018, said that the interest rate on the 1-year post office time deposit had been hiked to 7% (compounding quarterly), for the January-March quarter, from 6.9% in the previous quarter. But the rate on the 3-year deposit has been lowered to 7% from 7.2%.
