The National Savings Certificate (NSC) interest rate changes from time to time. Since April 2016 the government has reviewed it every quarter. For the October to December 2026 quarter, the NSC interest rate is 7.7% for the 5-year term, the same rate it has paid since April 2023.
The rate on the day you invest stays fixed for your NSC's full five years. The table below shows the history of National Savings Certificate interest rates. The 10-year IX issue was discontinued in December 2015.
| Period | VIII Issue | IX Issue |
| Up to 30-Nov-2011 | 8.00% | Not available |
| 01-Dec-2011 to 31-Mar-2012 | 8.40% | 8.70% |
| 01-Apr-2012 to 31-Mar-2013 | 8.60% | 8.90% |
| 01-Apr-2013 to 19-Dec-2015 | 8.50% | 8.80% |
| 20-Dec-2015 to 31-Mar-2016 | 8.50% | - |
| 01-Apr-2016 to 30-Sep-2016 | 8.10% | - |
| 01-Oct-2016 to 31-Mar-2017 | 8.00% | - |
| 01-Apr-2017 to 30-Jun-2017 | 7.90% | - |
| 01-Jul-2017 to 31-Dec-2017 | 7.80% | - |
| 01-Jan-2018 to 30-Sep-2018 | 7.60% | - |
| 01-Oct-2018 to 30-Jun-2019 | 8.00% | - |
| 01-Jul-2019 to 31-Mar-2020 | 7.90% | - |
| 01-Apr-2020 to 31-Dec-2022 | 6.80% | - |
| 01-Jan-2023 to 31-Mar-2023 | 7.00% | - |
| 01-Apr-2023 onwards | 7.70% | - |
As the table shows, NSC rates fell from 8.6% in 2012-13 to a low of 6.8% between 2020 and 2022, and have been 7.7% since April 2023. Rates for later quarters are published by the National Savings Institute (nsiindia.gov.in) and India Post, and our NSC calculator uses the current rate.