Repo rate and small savings rates
The rates that move your loan EMIs and your safe savings, now and over the last few years.
RBI repo rate changes
The repo rate is what RBI charges banks. When it falls, loan rates linked to it fall within about three months; when it rises, EMIs rise. The next decision is due on 7 October 2026.
| Date | Repo rate | Change |
|---|---|---|
| 5 Dec 2025 | 5.25% | -25 basis points |
| 6 Jun 2025 | 5.5% | -50 basis points |
| 9 Apr 2025 | 6% | -25 basis points |
| 7 Feb 2025 | 6.25% | -25 basis points |
| 8 Feb 2023 | 6.5% | +25 basis points |
| 7 Dec 2022 | 6.25% | +35 basis points |
| 30 Sept 2022 | 5.9% | +50 basis points |
| 5 Aug 2022 | 5.4% | +50 basis points |
| 8 Jun 2022 | 4.9% | +50 basis points |
| 4 May 2022 | 4.4% | +40 basis points |
| 22 May 2020 | 4% | -40 basis points |
| 27 Mar 2020 | 4.4% | -75 basis points |
| 4 Oct 2019 | 5.15% | -25 basis points |
| 7 Aug 2019 | 5.4% | -35 basis points |
| 6 Jun 2019 | 5.75% | -25 basis points |
| 4 Apr 2019 | 6% | -25 basis points |
| 7 Feb 2019 | 6.25% |
Small savings rates by quarter
The government sets these every quarter. PPF and Sukanya Samriddhi rates apply to the whole balance from the new quarter; NSC, KVP and term deposits keep the rate they started with.
| Quarter | PPF | Sukanya Samriddhi | Senior Citizens' Savings Scheme | NSC | Kisan Vikas Patra | Monthly income scheme | 5-year RD | 1-year deposit | 5-year deposit |
|---|---|---|---|---|---|---|---|---|---|
| Oct 2026 to Dec 2026 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jul 2026 to Sept 2026 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Apr 2026 to Jun 2026 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jan 2026 to Mar 2026 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Oct 2025 to Dec 2025 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jul 2025 to Sept 2025 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Apr 2025 to Jun 2025 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jan 2025 to Mar 2025 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Oct 2024 to Dec 2024 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jul 2024 to Sept 2024 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Apr 2024 to Jun 2024 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jan 2024 to Mar 2024 | 7.1% | 8.2% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Oct 2023 to Dec 2023 | 7.1% | 8% | 8.2% | 7.7% | 7.5% | 7.4% | 6.7% | 6.9% | 7.5% |
| Jul 2023 to Sept 2023 | 7.1% | 8% | 8.2% | 7.7% | 7.5% | 7.4% | 6.5% | 6.9% | 7.5% |
| Apr 2023 to Jun 2023 | 7.1% | 8% | 8.2% | 7.7% | 7.5% | 7.4% | 6.2% | 6.8% | 7.5% |
| Jan 2023 to Mar 2023 | 7.1% | 7.6% | 8% | 7% | 7.2% | 7.1% | 5.8% | 6.6% | 7% |
| Oct 2022 to Dec 2022 | 7.1% | 7.6% | 7.6% | 6.8% | 7% | 6.7% | 5.8% | 5.5% | 6.7% |
| Jul 2022 to Sept 2022 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Apr 2022 to Jun 2022 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Jan 2022 to Mar 2022 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Oct 2021 to Dec 2021 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Jul 2021 to Sept 2021 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Apr 2021 to Jun 2021 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Jan 2021 to Mar 2021 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Oct 2020 to Dec 2020 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Jul 2020 to Sept 2020 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
| Apr 2020 to Jun 2020 | 7.1% | 7.6% | 7.4% | 6.8% | 6.9% | 6.6% | 5.8% | 5.5% | 6.7% |
Bold figures changed from the quarter before.
Work out what these rates mean for you with the PPF calculator, the FD calculator and the loan EMI calculator.
Last checked 5 October 2026. Sources: RBI homepage, Policy Repo Rate 5.25% (read 5 Oct 2026), Stable Investor: Complete RBI repo rate history (to Aug 2026), Basunivesh: RBI repo rate history from 2000, Business Standard: RBI MPC keeps repo rate unchanged at 5.25% (5 Jun 2026), Finnovate: RBI August 2026 policy, repo held at 5.25%, The News Minute: Small savings rates cut for Apr-Jun 2020, Business Today: Small savings hike for Oct-Dec 2022 after nine quarters of status quo, Business Today: Small savings rates for Jan-Mar 2023, Gconnect: Ministry of Finance memorandum, rates for Q1 FY 2023-24, Business Standard: Rates raised for July-Sept 2023 quarter, Business Standard: 5-year RD raised to 6.7% for Oct-Dec 2023, CAclub: Rates for Q4 FY 2023-24 (SSY 8.2%), Basunivesh: Quarter-wise post office rates Jul 2023 to Sep 2026, Angel One: Small savings rates for Oct-Dec 2026 unchanged (1 Oct 2026), Outlook Money: Small savings rates unchanged, PPF 7.10%, NSC 7.70% (Oct-Dec 2026)
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