Revision of Interest Rates for Small Savings Scheme***F.No.01/04/2016-NS, Government of India, Ministry of Finance, Department of Economics Affair,
(Budget Division),
North Block, New Delhi,
Dated: 30-06-2017*** Subject: Revision of Interest Rates for Small Savings Scheme. *** The undersigned is directed to refer to this Department’s OM of even number
dated 16th February, 2016, vide which the various decisions
taken by the Government regarding interest fixation for small savings
schemes were communicated to all concerned.
(Budget Division),
North Block, New Delhi,
Dated: 30-06-2017*** Subject: Revision of Interest Rates for Small Savings Scheme. *** The undersigned is directed to refer to this Department’s OM of even number
dated 16th February, 2016, vide which the various decisions
taken by the Government regarding interest fixation for small savings
schemes were communicated to all concerned.
F.No.01/04/2016-NS
Government of India
Ministry of Finance
Department of Economics Affairs
(Budget Division)
North Block, New Delhi
Dated: 30-06-2017
Subject: Revision of Interest Rates for Small Savings Scheme.
The undersigned is directed to refer to this Department’s OM of even number
dated 16th February, 2016, vide which the various decisions
taken by the Government regarding interest fixation for small savings
schemes were communicated to all concerned.
dated 16th February, 2016, vide which the various decisions
taken by the Government regarding interest fixation for small savings
schemes were communicated to all concerned.
2. On the basis of the decision of the Government, interest rates for small
savings schemes are to be notified on quarterly basis. Accordingly, the
rates of interest on various small savings schemes for the second qauarter
of financial year 2017-18 starting 1st July, 2017, and ending on
30th September, 2017, on the basis of the interest compounding /
payment built-in in the schemes, shall be as under:
savings schemes are to be notified on quarterly basis. Accordingly, the
rates of interest on various small savings schemes for the second qauarter
of financial year 2017-18 starting 1st July, 2017, and ending on
30th September, 2017, on the basis of the interest compounding /
payment built-in in the schemes, shall be as under:
| Instruments |
Rates of Interest w.r.t. 1-4-17 to 30-6-17
|
Rates of Interest w.r.t. 1-7-17 to 30-9-17
|
Compounding frequency*
|
| Saving Deposit |
4.0
|
4.0
|
Annually
|
| 1 Year Time Deposit |
6.9
|
6.8
|
Quarterly
|
| 2 Year Time Deposit |
7.0
|
6.9
|
Quarterly
|
| 3 Year Time Deposit |
7.2
|
7.1
|
Quarterly
|
| 5 Year Time Deposit |
7.7
|
7.6
|
Quarterly
|
| 5 Year Recuring Deposit |
7.2
|
7.1
|
Quarterly
|
| 5 Years Senior Citizen Savings Scheme |
8.4
|
8.3
|
Quarterly and paid
|
| 5 Year Monthly Income Account |
7.6
|
7.5
|
Monthly and paid
|
| 5 Year National Savings Certificate |
7.9
|
7.8
|
Annually
|
| Public Provident Fund Scheme |
7.9
|
7.8
|
Annually
|
| Kisan Vikas Patra |
7.6 (will mature in 113 months)
|
7.5 (will mature in 115 months)
|
Annually
|
| Sukanya Samriddhi Account Scheme |
8.4
|
8.3
|
Annually
|
* No Change
3. This has the approval of Finance Minister.
(Navin Agarwal)
Director
Tele-01123095019
To,
1. The Secretary
Department of Expenditure
North Block, New Delhi.
2. The Secretary
Department of Posts
Dak Bhawan
New Delhi.
3. The Secretary
Department of Revenue
North Block, New Delhi.
4. The Secretary
Department of Financial
Services, Jeevan Deep Building
Parliament Street, New Delhi.
5. The Director
National Savings Institure
New Delhi.
6. Reserve Bank of India
Central Account Section
Additional Office Section
Nagpur – 440 001.
7. Chief General Manager
Department of Govt. & Bank Accounts
Reserve Bank of India
Central Office, Mumbai.
8. Chief Secretaries of States/UT Governments.
Source: MINISTRY OF FIANANCE
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