Small Savings Schemes : Revision of Interest Rates – reg.

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
Read also :  Revision of Interest Rates for Small Savings Scheme - Min. of Finance order

2. This has the approval of Finance Minister.

(Rajesh Panwar)
Dy. Direétor (Budget)

To.

  1. FS & Secretary (Department of Revenue). North Block, New Delhi.
  2. The Secretary. Department of Economie Affairs, North Block. New Delhi.
  3. The Secretary, Department of Financial Services, Jeevan Deep Building,  Parliament Street, New Delhi.
  4. The Secretary, Department of Expenditure, North Block, New Delhi.

small-savings-schemes-revision-of-interest-rates-reg

Source: DoEA

 

COMMENTS