Revision of Interest Rates for Small Savings Schemes – SB Order No. 15/2020

Revision of Interest Rates for Small Savings Schemes – SB Order No. 15/2020

SB Order No. 15/2020

F. No 113-03/2017-SB
Govt. of India Ministry of Communication
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi-110001
Dated:  31.03.2020

All Head of Circles/Regions
Addl. Director General, APS, New Delhi

Subject : Revision of interest rates for Small Savings Schemes w.e.f. 01.04.2020

Madam/Sir,

The undersigned is directed to say that vide  memorandum  no.1/4/2019-NS dated 31.03.2020 (copy enclosed), Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) have informed that, the rate of interest on various Small Savings Schemes for the first quarter of financial year 2020-21 starting 1st April, 2020 and ending on 30th June, 2020 have been revised, as under:

Sl. No. Instruments Rate   of   interest w.e.f.  01.01.2020 to 31.03.2020 Rate   of   interest w.e.f   01.04.2020 to 30.06.2020 Compounding Frequency*
01. Post Office Savings Account 4.0 4.0 Annually
02. 1 Year Time Deposit 6.9 5.5 Quarterly
03. 2 Year Time Deposit 6.9 5.5 Quarterly
04. 3 Year Time Deposit 6.9 5.5 Quarterly
05. 5 Year Time Deposit 7.7 6.7 Quarterly
06. 5 Year Recurring Deposit 7.2 5.8 Quarterly
07. Senior      Citizen       Savings Scheme 8.6 7.4 Quarterly and Paid
08. Monthly Income Account 7.6 6.6 Monthly and paid
09. National  Savings  Certificate (VIII Issue) 7.9 6.8 Annually
10. Public       Provident       Fund Scheme 7.9 7.1 Annually
11. Kisan Vikas Patra 7.6 (will    mature     in 113 months) 6.9 (will    mature     in 124 months) Annually
12. Sukanya Samriddhi Account Scheme 8.4 7.6 Annually
Read also :  GDS- Revised Eligibility Criteria for engagement - DoP Order dated 08.03.2019

Read also : Ministry of Finance F.No.1/4/2019-NS dated 31.03.2020 [Revision of Interest Rates – Small Savings Schemes]

3. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area. The relevant calculation tables will be supplied in due course on receipt from the DEA/MoF.

4. This issues with the approval of Competent Authority.

Yours Faithfully,

(Devendra Sharma)
Assistant Director (SB)

Copy to:-

  1. Sr. PPS to Secretary (Posts)/Sr.PPS to Director General Postal Services.

  2. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/ Member (O)/ Member (P)/ Member (Planning & HRD)/ Member (PLI)/ Member (Tech)

  3. Additional Secretary & Financial Adviser

  4. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate

  5. Sr. Deputy Director General (Vigilance) & CVO) / Sr. Deputy Director General (PAF)

  6. Director, RAKNPA / GM, CEPT / Directors of all PTCs

  7. Director General P & T (Audit), Civil Lines, New Delhi

  8. Secretary, Postal Services Board/ All Deputy Directors General

  9. All General Managers (Finance) / Directors Postal Accounts / DDAP

  10. Chief Engineer (Civil), Postal Directorate

  11. All Sections of Postal Directorate

  12. All recognized Federations / Unions/ Associations

  13. GM, CEPT for uploading the order on the India Post website.

  14. MOF(DEA), NS-II, North Block, New Delhi.

  15. Joint Director & HOD, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002

  16. Guard File

  17. Spare copies.

Read also :  7वीं सीपीसी : वेतन के स्तरों के बंचिंग के संबंध में वित्त मंत्रालय का दिनांक 07.02.2019 का कार्यालय ज्ञापन

revision-of-interest-rates-for-small-savings-schemes-sb-order-no-15-2020

http://utilities.cept.gov.in/dop/pdfbind.ashx?id=4434

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