Small Savings Schemes : Revision of Interest Rates – reg.
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 31.03.2020
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
In exercise of the powers conferred by Rule 9(1) of the Government Saving Promotion General Rules. ‘ 2018, the rates of interest on various Small Savings Schemes for the first quarter of financial year 2020-21 starting from 1st April, 2020 and ending on 30th June. 2020 have been revised as indicated below:
| Instruments | Rate of interest from 01.01.2020 to 31.03.2020 | Rate of interest from 01.04.2020 to 30.06.2020 | Compoinding frequency* |
| Savings Deposit | 4.0 | 4.0 | Annually |
| 1 Year Time Deposit | 6.9 | 5.5 | Quarterly |
| 2 Year Time Deposit | 6.9 | 5.5 | Quarterly |
| 3 Year Time Deposit | 6.9 | 5.5 | Quarterly |
| 5 Year Time Deposit | 7.7 | 6.7 | Quarterly |
| 5 Year Recurring Deposit | 7.2 | 5.8 | Quarterly |
| Senior Citizen Savings Scheme | 8.6 | 7.4 | Quarterly and paid |
| Monthly Income Account | 7.6 | 6.6 | Monthly and paid |
| National Savings Certificate | 7.9 | 6.8 | Annually |
| Public Provident Fund Scheme | 7.9 | 6.8 | Annually |
| Kisan Vikas Patra | 7.6 (will mature in 113 months) | 6.9 (will mature in 124 months) | Annually |
| Sukanya Samriddhi Account Scheme | 8.4 | 7.6 | Annually |
2. This has the approval of Finance Minister.
(Rajesh Panwar)
Dy. Direétor (Budget)
To.
- FS & Secretary (Department of Revenue). North Block, New Delhi.
- The Secretary. Department of Economie Affairs, North Block. New Delhi.
- The Secretary, Department of Financial Services, Jeevan Deep Building, Parliament Street, New Delhi.
- The Secretary, Department of Expenditure, North Block, New Delhi.
Source: DoEA
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