Revision of interest rates for Small Savings Schemes

Interest rates for various Small Savings Schemes for the first quarter of the 2020-21 financial year from 1 April 2020 to 30 June 2020

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	Compounding 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

Also check: Rate of interest on various National Small Savings Schemes with effect from 1st January 2020
2. This has the approval of Finance Minister.

(Rajesh Panwar)
Dy. Director (Budget)

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Revision of interest rates for small savings schemes

Revision of interest rates for small savings schemes

F.No.01/04/2016-NS
Government of India
Ministry Of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated: 19.09.2018

Subject: Revision of interest rates for small savings schemes.

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 third quarter of financial year 2018-19 starting 1st October, 2018 and ending on 31st December, 2018, on the basis of the interest compounding/payment built-in the schemes, shall be as under:-

Instrument	Rate of interest w.r.f 01.07.2018 to 30.09.2018	Rate of interest w.r.t 01.10.2018 to 31.12.2018	Compounding frequency*
Savings Deposit	4.0	4.0	Annually
1 Year Time Deposit	6.6	6.9	Quarterly
2 Year Time Deposit	6.7	7.0	Quarterly
3 Year Time Deposit	6.9	7.2	Quarterly
5 Year Time Deposit	7.4	7.8	Quarterly
5 Year Recurring Deposit	6.9	7.3	Quarterly
5 Year Senior Citizen Savings Scheme	8.3	8.7	Quarterly and paid
5 Year Monthly Income Account	7.3	7.7	Monthly and Paid
5 Year National Savings certificate	7.6	8.0	Annually
Public provident Fund Scheme	7.6	8.0	Annually
Kisan Vikaspatra	7.3 (will mature in 118 months)	7.7 (will mature in 112 months)	Annually
Sukanya Samriddhi Account Scheme	8.1	8.5	Annually

*No change

3. This has the approval of Finance Minister.

(Padam singh)
Sr.Regional Director(NS)
Tele: 01123095155

Source: Dea.gov.in

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Revision of interest rates for Small Savings Schemes

Revision of interest rates for Small Savings Schemes
 

F.No.01/04/2016-NS

Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi

Dated: 02.07.2018

Office Memorandum

Subject: Revision of interest rates for Small Savings Schemes

On the basis of the decision of the Government, interest rates for small savings schemes are notified on quarterly basis since April, 2016. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2018-19 staring 1st July, 2018 and ending on 30th September, 2018 shall remain unchanged from those notified for the first quarter of financial year 2018- 19.

2. This has the approval of Finance Minister.

S/d,

(Sakshi Kumar)

Deputy Director

Tel : 01123095764

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Rates of small savings schemes

Rates of small savings schemes

22 Mar,2018

The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:

Instrument	Rate Of Interest W.E.F. 01.01.2018 To 31.03.2018
Savings Deposit	4.0
1 Year Time Deposit	6.6
2 Year Time Deposit	6.7
3 Year Time Deposit	6.9
5 Year Time Deposit	7.4
5 Year Recurring Deposit	6.9
5 Year Senior Citizen Savings Scheme	8.3
5 Year Monthly Income Account	7.3
5 Year National Savings Certificate	7.6
Public Provident Fund Scheme	7.6
Kisan Vikas Patra	7.3 (will mature in 118 months)
Sukanya Samriddhi Account Scheme	8.1

This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha.

Source : PIB

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Revision of interest rates for Small Savings Schemes for 4th Quarter of FY 2017-18 (Jan, 18 to Mar, 18) - MoF

Revision of interest rates for Small Savings Schemes for 4th Quarter of FY 2017-18 (Jan, 18 to Mar, 18) - MoF

F.No.01/04/2016-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

 North Block, New Delhi
Dated: 27.12.2017

  Office Memorandum

Subject: Revision of interest rates for Small Savings Schemes.

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 fourth quarter of financial year 2017-18 starting 1st January, 2018, and ending on 31st March, 2018, on the basis of the interest compounding payment built-in in the schemes, shall be as under:

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Revision of interest rates for Small Savings Schemes

Revision of interest rates for Small Savings Schemes

F.No.1/04/2016-NS.II
Government Of India
Ministry Of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated: December 30, 2016

OFFICE MEMORANDUM

Subject: Revision of interest rates for Small Savings Schemes.

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 fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31st March 2017 on the basis of the interest compounding/payment built-in the schemes, shall be as under:

Instrument	Rate of interest w.e.f. 01.10.2016 to 31.12.2016	Rate of interest w.e.f. 01.01.2017 to 31.03.2017	Compounding frequency*
Savings Deposit	4.0	4.0	Annually
1 Year Time Deposit	7.0	7.0	Quarterly
2 Year Time Deposit	7.1	7.1	Quarterly
3 Year Time Deposit	7.3	7.3	Quarterly
5 Year Time Deposit	7.8	7.8	Quarterly
5 Year Recurring Deposit	7.3	7.3	Quarterly
5 Year Senior Citizens Savings Scheme	8.5	8.5	Quarterly and paid
5 Year Monthly Income Account Scheme	7.7	7.7	Monthly and Paid
5 Year National Savings Certificate	8.0	8.0	Annually
Public Provident Fund Scheme	8.0	8.0	Annually
Kisan Vikas Patra	7.7 (will mature in 112 months)	7.7 (will mature in 112 months)	Annually
Sukanya Samriddhi Account Scheme	8.5	8.5	Annually

* No Change

3. This has the approval of Finance Minister.

(Vyasan R)
Deputy Secretary to the Government of India
Tele: 01123092326

Source: Finmin.nic.in

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Interest rate on the long term saving deposits in post offices

Interest rate on the long term saving deposits in post offices

Interest rates on bank deposits are not uniform and vary from bank to bank. Hence, a one-on-one comparison of interest rates may not be possible.

The interest rates on term deposits are deregulated and they are determined by the banks themselves as per their Board approved policies. In contrast interest rates on Small Savings Schemes are administered interest rates linked to G-Sec rate of comparable maturity.

The percentage of savings in the savings schemes in Post Office as on 31.03.2016 is 14.84% of the deposits in the savings schemes of PSBs.

The Government has taken various steps to popularise all the existing schemes by carrying out publicity through print and electronic/Audio Visual media on an all India basis. Jan Dhan Yojana is a scheme of the Government to encourage deposits in banks and promote savings.

This was stated by Shri Arjun Ram Meghwal, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.

PIB

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Revision of interest rates for Small Savings Scheme from 1st Oct, 2016 to 31st Dec, 2016

Revision of interest rates for Small Savings Scheme from 1st Oct, 2016 to 31st Dec, 2016

F.No. 1/04/2016-NS.II
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated: September 29. 2016

OFFICE MEMORANDUM

Subject: Revision of interest rates for Small Savings Schemes.

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 third quarter of financial year 2016-17 starting on 1st October, 2016 and ending on 31st December. 2016, on the basis of the interest compounding/payment built-in in the schemes. shall be as under:

Instruments	Rate of interest w.e.f. 01.07.2016 to 30.09.2016	Rate of interest w.e.f. 01.10.2016 to 31.12.2016	Compounding frequency*
Saving Deposit	4.0	4.0	Annually
1 Year Time Deposit	7.1	7.0	Quarterly
2 Years Time Deposit	7.2	7.1	Quarterly
3 Years Time Deposit	7.4	7.3	Quarterly
5 Years Time Deposit	7.9	7.8	Quarterly
5 Years Recurring Deposit	7.4	7.3	Quarterly
5 Years Senior Citizens Savings Scheme	8.6	8.5	Quarterly and paid
5 Years Monthly Income Account Scheme	7.8	7.7	Monthly and paid
5 Years National Savings Certificate	8.1	8.0	Annually
Public Provident Fund Scheme	8.1	8.0	Annually
Kisan Vikas Patra	7.8 (will mature in 110 months)	7.7 (will mature in 112 months)	Annually
Sukanya Samriddhi Account Scheme	8.6	8.5	Annually

*No change

3. This has the approval of Finance Minister.

(Vyasan R.)
Deputy Secretary to the Government of India

Source: http://finmin.nic.in

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Revision of interest rates for Small Savings Schemes – Fin Min Orders

Revision of interest rates for Small Savings Schemes – Fin Min Orders

F.No. 1/04/2016·NS.11
Government  of India
Ministry of Finance Department  of Economic Affairs (Budget  Division)

North Block,  New Delhi
Dated:  18th  March, 2016

OFFICE  MEMORANDUM

Subject:   Revision   of interest   rates  for  Small  Savings   Schemes.

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  decisions   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  first  quarter  of financial  year  2016-17,   on  the  basis  of the interest  compounding/payment   built-in in the schemes,  shall be as under:

Instrument	Rate of Interest W.E.F 01.04.2015 to 31.03.2016	Rate of Interest w.e.f 01.04.2016 to 30.06.2016
Savings Deposit	4.0	4.0
1 Year Time Deposit	8.4	7.1
2 Year Time Deposit	8.4	7.2
3 Year Time Deposit	8.4	7.4
5 Year Time Deposit	8.5	7.9
5 Year Recurring Deposit	8.4	7.4
5 Year Senior Citizens Savings Deposit	9.3	8.6
5 Year Monthly IncomeAccount scheme	8.4	7.8
5 Year National Savings Certificate	8.5	8.1
Public Provident Fund Scheme	8.7	8.1
Kisan Vikas Patra	8.7	7.8 (Will Mature in 110 Months)
Sukanya Samriddhi Account Scheme	9.2	8.6

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