Small Savings Schemes : Revision of Interest Rates – reg.
Government of India
Ministry of Finance
Department of Economic Affairs
North Block, New Delhi
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*|
|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.
Dy. Direétor (Budget)
- 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.