By Ashutosh Joshi, PGDM (Finance), B.Com · Page last reviewed:
The RBI repo rate is 5.50% (from 7 Oct 2026). Small savings rates are unchanged for Oct–Dec 2026: PPF 7.1%, SSY and SCSS 8.2%, NSC 7.7%. CPI inflation is 5.54% (Sep 2026). Loans linked to the repo rate cost a little more, while tax-free PPF, SSY and EPF still beat inflation.
Key Highlights
- RBI raised the policy repo rate to 5.50% on 7 Oct 2026; SDF 5.25%, MSF and Bank Rate 5.75%. Next MPC meeting: 2–4 Dec 2026.
- All small savings rates are unchanged for Oct–Dec 2026: SSY and SCSS 8.2%, NSC 7.7%, KVP 7.5%, PPF 7.1%.
- EPF interest for FY 2025-26: 8.25%.
- CPI inflation rose to 5.54% in September 2026 (provisional), from 4.83% in August.
- Bank deposits are insured up to ₹5 lakh per depositor per bank by DICGC.
Calculate with today’s rates
Plug the latest official rates into our free calculators.
RBI policy rates and reserve ratios
Use the EMI calculatorPrepay or invest?Read: repo hike & your EMI
These decide how expensive money is for banks, and they flow through to your home loan EMI and, more slowly, to FD rates. Most bank home loans are linked to the repo rate through an EBLR. To see what a rate change does to your EMI, try our EMI calculator.
| Rate | Current | Effective from | Previous |
|---|---|---|---|
| Policy repo rate | 5.50% | 7 Oct 2026 | 5.25% |
| Standing Deposit Facility (SDF) | 5.25% | 7 Oct 2026 | 5.00% |
| Marginal Standing Facility (MSF) | 5.75% | 7 Oct 2026 | 5.50% |
| Bank Rate | 5.75% | 7 Oct 2026 | 5.50% |
| Fixed reverse repo | 3.35% | — | — |
| CRR | 3.00% | — | — |
| SLR | 18.00% | — | — |
Small savings scheme rates (1 Oct – 31 Dec 2026)
The Finance Ministry resets these every quarter. For Q3 of FY 2026-27 it left every rate unchanged from July–September. Once you open an NSC, KVP, SCSS, MIS or time deposit, your rate is locked for the full term; PPF and SSY rates can change every quarter.
The Mahila Samman Savings Certificate is closed to new deposits: it was available only until 31 March 2025 (India Post SB Order 03/2025 ↗).
| Scheme | Rate (p.a.) | Compounding / payout | Calculator |
|---|---|---|---|
| Post Office Savings Account | 4.0% | Yearly | — |
| Time Deposit – 1 year | 6.9% | Quarterly (paid yearly) | FD calculator |
| Time Deposit – 2 years | 7.0% | Quarterly (paid yearly) | FD calculator |
| Time Deposit – 3 years | 7.1% | Quarterly (paid yearly) | FD calculator |
| Time Deposit – 5 years | 7.5% | Quarterly (paid yearly) | FD calculator |
| Recurring Deposit – 5 years | 6.7% | Quarterly | RD calculator |
| Monthly Income Scheme (POMIS) | 7.4% | Paid monthly | Safe options guide |
| Senior Citizens’ Savings Scheme | 8.2% | Paid quarterly | Safe options guide |
| National Savings Certificate | 7.7% | Yearly, paid at maturity | Section 123 guide |
| Public Provident Fund | 7.1% | Yearly | PPF calculator |
| Kisan Vikas Patra | 7.5% (matures in 115 months) | Yearly | Safe options guide |
| Sukanya Samriddhi Yojana | 8.2% | Yearly | Child plans guide |
Rate history for each scheme: PPF history →Post Office TD/RD/MIS history →SSY →SCSS →NSC →KVP →
EPF interest rate
| Financial year | EPF rate | Status |
|---|---|---|
| 2025-26 | 8.25% | Notified by EPFO, 1 Jul 2026 |
CPI inflation
Our calculators assume 6% long-term inflation, a little above the latest reading, to keep your goal estimates on the safe side. At 5.54% inflation, PPF’s 7.1% gives a real return of roughly 1.5% a year.
| Month | All-India | Rural | Urban | Food (CFPI) |
|---|---|---|---|---|
| Sep 2026 (provisional) | 5.54% | 6.08% | 4.88% | 7.74% |
| Aug 2026 (final) | 4.83% | 5.24% | 4.31% | 5.97% |
Income tax slabs – tax year 2026-27 (Income-tax Act, 2025)
The new regime is the default. A rebate under section 156 makes income up to ₹12 lakh tax-free, so a salaried person with the ₹75,000 standard deduction pays nothing up to ₹12.75 lakh. The old regime has a ₹50,000 standard deduction and keeps deductions such as section 123 (old 80C). Add 4% health and education cess to the tax.
Read: old vs new regimeMissed the ITR deadline?
| Income (new regime) | Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
| Income (old regime, below 60) | Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
| Old section (1961 Act) | New section (2025 Act) | What it covers |
|---|---|---|
| 80C | 123 | PPF, ELSS, EPF, life cover premium etc. |
| 80CCD | 124 | NPS (employer / additional) |
| 80D | 126 | Health insurance premium |
| 24 | 22 | Home loan interest (house property) |
| 44AD / 44ADA | 58 | Presumptive taxation |
| 87A | 156 | Rebate |
| 139 (due dates) | 263 | Return filing due dates |
| 234F | 428 | Late filing fee |
| 10(10D) | 11 + Schedule II | Life insurance maturity |
Key money deadlines
| Date | What is due |
|---|---|
| 15 Dec 2026 | Advance tax – 3rd instalment (75% of tax due) |
| 31 Dec 2026 | Last day of Q3 small savings rates; Q4 rates announced around this date |
| 15 Mar 2027 | Advance tax – 4th instalment (100%) |
| 31 Mar 2027 | End of tax year 2026-27; last date for old-regime tax-saving investments |
| 15 Jun 2027 | Advance tax – 1st instalment for tax year 2027-28 (15%) |
Deposit insurance
DICGC, a wholly owned subsidiary of the RBI, insures savings, current, fixed and recurring deposits up to ₹5 lakh per depositor per bank, with principal and interest counted together. Deposits in different banks are insured separately. Post Office schemes are backed by the Government of India, not DICGC. Compare FD options on our FD calculator or read our October 2026 FD rates guide.
Source: DICGC ↗ · Updated 21 Oct 2026Source: DivingFinance Live Rates & Government Data, https://divingfinance.com/rates/ (updated 21 Oct 2026)Diving Finance view: expert take by Ashutosh Joshi
- Keep your emergency fund in FDs. Even in the 30% slab, keep part of your portfolio in FDs for safety and protection from market swings.
- For 3–5 year goals use a Post Office RD or a debt-fund SIP, depending on your risk appetite and budget.
- Put your monthly surplus into SIPs (plan for 10–12%) and use lump sums to prepay the home loan. Take a long loan tenure for a comfortable EMI.
- Extend PPF to 20–25 years for a meaningful corpus, and plan with 6% inflation.
This is general guidance, not personal advice. Check your own goals, tax slab and risk appetite.
Which rate actually beats inflation? (our calculation)
| Option | Pre-tax | Post-tax (30% slab) | Post-tax (20% slab) | Real return after 6% inflation (30% slab) |
|---|---|---|---|---|
| EPF 2025-26 | 8.25% | 8.25% | 8.25% | 2.12% |
| SSY | 8.2% | 8.20% | 8.20% | 2.08% |
| PPF | 7.1% | 7.10% | 7.10% | 1.04% |
| SCSS | 8.2% | 5.64% | 6.49% | -0.34% |
| NSC | 7.7% | 5.30% | 6.10% | -0.66% |
| KVP | 7.5% | 5.16% | 5.94% | -0.79% |
| Bank FD (illustrative) | 7.0% | 4.82% | 5.54% | -1.12% |
Assumptions in the comparisons: income-tax slabs of 30% and 20% plus 4% cess (31.2% and 20.8%), an illustrative bank FD at 7%, long-run inflation of 6% and equity SIP returns of 10–12%, as used by our author. These are planning assumptions, not forecasts.
FAQs
What is the current repo rate?
5.50%, effective 7 October 2026, when the MPC raised it by 25 basis points. The next MPC meeting is on 2–4 December 2026, and we update this page after every decision.
What is the PPF interest rate for October–December 2026?
7.1% a year. The Finance Ministry kept all small savings rates unchanged for Q3 of FY 2026-27 in its order dated 30 September 2026.
Which small savings scheme pays the most right now?
Sukanya Samriddhi Yojana and the Senior Citizens' Savings Scheme, both at 8.2% for October–December 2026.
What is the EPF interest rate for 2025-26?
8.25%. EPFO's circular dated 1 July 2026 asked offices to credit 8.25% for FY 2025-26.
What is the latest CPI inflation?
5.54% for September 2026 (provisional), as per MoSPI's release of 12 October 2026. The next release is due on 12 November 2026.
How much of my bank deposit is insured?
DICGC insures up to ₹5 lakh per depositor per bank, covering principal and interest together.
How often is this page updated?
After every RBI MPC decision, every monthly CPI release, every quarterly small savings notification, and whenever EPF or tax rules change. Each change is listed in the change log.
Read our guides
Plan your money with confidence
8 free calculators and plain-English guides, updated with official data.
Change log
- 21 Oct 2026 – Page launched. Small savings Q3 FY 2026-27, EPF FY 2025-26, CPI Sep 2026, tax slabs for tax year 2026-27 and RBI rates added, all checked against official sources.
- 21 Oct 2026 – RBI rates confirmed from the 7 Oct 2026 MPC resolution (repo 5.50%, SDF 5.25%, MSF/Bank Rate 5.75%). Added links to the detailed rate pages.
How we collect this data
Every number on this page comes straight from the official publisher: RBI, the Ministry of Finance, India Post, EPFO, MoSPI, the Income Tax Department and DICGC. Each one has its source and date next to it. We don’t use figures from news sites or aggregators. If an official source changes, we update the page and note it in the change log. Read our editorial policy and how we calculate. This page is for information only and is not investment advice; check the official source before you act.