Post Office Monthly Income Scheme (POMIS), Recurring Deposit Interest Rates Hiked for April-June Quarter

Post Office Monthly Income Scheme, Recurring Deposit Interest Rates (April-June 2023): The Government has increased the interest rates for Post Office Monthly Income Scheme (POMIS) and Post Office Recurring Deposit schemes.

As per the official notification of the Department of Economic Affairs (DEA), Ministry of Finance, the revised rate for the Post Office Monthly Income Scheme account is 7.7% while the new rate for the Post office Recurring Deposit Account is 6.2%.

Along with POMIS and RD rates, the Government has also increased the interest rates of some other small savings schemes like Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Yojana, Kisan Vikas Patra and Post Office Fixed Deposits. There is no change in Public Provident Fund (PPF) interest rate.

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The Government revises interest rates for various small savings schemes on a quarterly basis. The next revision of the interest rates will happen by June 30, 2023.