Revision of Interest Rates for Small Savings Scheme – Min. of Finance order

Revision of Interest Rates for Small Savings Scheme – Min. of Finance order

interest rates of small savings scheme
 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.

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. 
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: 

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

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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.

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Source: MINISTRY OF FIANANCE

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