PPF, SSY, SCSS Rates for Oct–Dec 2026: Unchanged at 7.1% and 8.2%
PPF stays at 7.1%, SSY and SCSS at 8.2%, NSC at 7.7% and KVP at 7.5% for October–December 2026, unchanged for a tenth quarter. What it means for you.
By Balaji Anbazhagan
· Updated · 6 min read
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The Finance Ministry will announce interest rates on PPF, Sukanya Samriddhi, Senior Citizens Savings Scheme, NSC, KVP and other post office schemes for October–December 2026 on or around 30 September 2026. Rates have not changed for nine reviews in a row. This time, government bond yields have risen, and the RBI may raise its repo rate in early October, so the pressure is upward, not downward. Here are today’s rates, what could happen, and what to do before the announcement.
Update, 30 September 2026: the government kept every small savings rate unchanged for October–December 2026, the tenth quarter in a row. PPF stays at 7.1%, SSY and SCSS at 8.2%, NSC at 7.7%, KVP at 7.5% (doubling in 115 months) and MIS at 7.4%. Work out your returns with the PPF, SSY, SCSS, NSC, KVP and Post Office MIS calculators, or see all post office interest rates.
The short answer
- Announcement: on or around 30 September 2026, for 1 October to 31 December 2026.
- Current rates: PPF 7.1%, SSY 8.2%, SCSS 8.2%, NSC 7.7%, KVP 7.5%, MIS 7.4%.
- Result: no change, for the tenth review in a row. The rates above apply until 31 December 2026.
- Why a rise is possible: the 10-year government bond yield rose from about 6.74% on 30 June to about 7.05% on 22 September.
- If you are about to open SCSS, NSC, MIS or a time deposit, the rate on the day you open it stays for the full term. That changes whether to open now or wait.
- PPF and SSY rates apply to your whole balance each quarter, so there is nothing to lock in.
Current small savings rates (July–September 2026)
| Scheme | Rate | Term | Rate fixed at opening? |
|---|---|---|---|
| Post Office Savings Account | 4.0% | No lock-in | No |
| 1-year Time Deposit | 6.9% | 1 year | Yes |
| 2-year Time Deposit | 7.0% | 2 years | Yes |
| 3-year Time Deposit | 7.1% | 3 years | Yes |
| 5-year Time Deposit | 7.5% | 5 years | Yes |
| 5-year Recurring Deposit | 6.7% | 5 years | Yes |
| Senior Citizens Savings Scheme (SCSS) | 8.2% | 5 years | Yes |
| Monthly Income Scheme (MIS) | 7.4% | 5 years | Yes |
| National Savings Certificate (NSC) | 7.7% | 5 years | Yes |
| Kisan Vikas Patra (KVP) | 7.5% | Doubles in 115 months | Yes |
| Public Provident Fund (PPF) | 7.1% | 15 years | No, changes each quarter |
| Sukanya Samriddhi Yojana (SSY) | 8.2% | 21 years | No, changes each quarter |
See all rates, updated each quarter, on our post office interest rates page.
How the government decides
In 2011 the Shyamala Gopinath committee linked small savings rates to the yield on government bonds of similar maturity, averaged over the previous three months, plus a small margin for each scheme. For PPF the margin is 0.25 percentage points.
In practice the government does not follow the formula strictly, and rates often stay put even when bond yields move. The final decision is the government’s.
What bond yields are saying now
The 10-year government bond yield has risen by about 0.31 percentage points since the last review on 30 June:
| Date | 10-year G-sec yield (approx.) |
|---|---|
| 30 June 2026 | 6.74% |
| 22 September 2026 | 7.05% |
Yields rose because of expensive crude oil, a weaker rupee, higher US interest rates after the US Fed’s hike and talk of an RBI rate rise at its 5–7 October policy meeting. Banks may also raise FD rates if the RBI moves. So there is a case for small savings rates to rise, but not a strong case for a cut.
Three possible outcomes
| Outcome | How likely | What it means |
|---|---|---|
| No change | Most likely, based on the last nine reviews | Rates stay as in the table above until 31 December |
| Small rise in some schemes | Possible, given bond yields | New deposits in SCSS, NSC, MIS and TDs get a higher fixed rate. PPF and SSY balances earn more from October |
| Cut | Unlikely while yields are rising | Anyone who opened a fixed-rate scheme before 1 October keeps the old rate |
What to do before 30 September
If you plan to open SCSS, NSC, MIS, KVP or a post office time deposit: The rate on the day you open the account stays for the whole term. With a cut unlikely and a rise possible, there is little risk in waiting until the new rates are out. If the rates stay the same, you lose only a few days of interest.
For example, ₹10 lakh in SCSS at 8.2% pays ₹20,500 every quarter. At 8.4% it would pay ₹21,000. At 8.0% it would pay ₹20,000. Try your own amount on the SCSS calculator.
If you invest in PPF or Sukanya Samriddhi: There is nothing to lock in. The new rate applies to your whole balance from 1 October. What matters is timing within the month: PPF and SSY interest is worked out on the lowest balance between the 5th and the last day of each month. Deposit by the 5th to earn interest for that month. See the effect over 15 years on the PPF calculator or the SSY calculator.
If you compare with bank FDs: Bank FD rates can move faster than small savings rates after an RBI decision. Compare the post office’s 5-year rate with your bank’s on our FD interest rates page, and read about RBI’s new FD rules from 1 October.
Note on the bank strike
The rate notice comes from the Finance Ministry, so a bank strike does not delay it. Post offices are not part of the strike, but bank unions are striking on 28–30 September. If you want to open a scheme through a public sector bank, see what works during the bank strike.
Frequently asked questions
When will small savings interest rates for October–December 2026 be announced? They were announced on 30 September 2026 and apply from 1 October to 31 December 2026. All rates were left unchanged.
What is the PPF interest rate now? 7.1% a year for July–September 2026. It has stayed at 7.1% since April 2020.
Will the PPF rate go up in October 2026? No. On 30 September 2026 the government kept the PPF rate at 7.1% for October–December 2026.
If SCSS rates rise, does my old SCSS account get the new rate? No. SCSS, NSC, MIS, KVP and time deposits keep the rate they were opened with for the full term. Only PPF and SSY change with each quarter.
What is the SSY interest rate for October–December 2026? It is 8.2%, unchanged from the previous quarter.
Sources
- Business Standard, “Interest rates on small savings schemes remain unchanged for Oct-Dec”, 30 September 2026: business-standard.com
- Outlook Money, “Small Savings Rates Unchanged: PPF At 7.10 Per Cent, NSC At 7.70 Per Cent”: outlookmoney.com
- IndianPayCalculator, “PPF floats, SCSS locks — your move before the Sept 30 reset”: indianpaycalculator.in
- NTV Telugu, “Small Savings Schemes Interest Rates October-December 2026: PPF, SSY Review on Sept 30”: ntvtelugu.com
- Department of Economic Affairs, Small Savings: dea.gov.in
- Business Standard, “Govt keeps interest rates on various small savings schemes unchanged”: business-standard.com
This article is for general information and education, not financial, tax or investment advice. Rules and rates change; check official sources or consult a qualified professional before acting. See our disclaimer.