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Revision of Interest Rates for Small Savings Schemes for fourth quarter of 2017-18

Small Savings Scheme

Revision of Interest Rates for Small Savings Schemes for fourth quarter of 2017-18 – Saving Deposits interest Rate 4% and Sukanya Samriddhi Account Scheme carries interest Rate of 8.1%

Revision of Interest Rates for Small Savings Schemes for fourth quarter of 2017-18 – 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: 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 31th March, 2018, on the basis of the interest compounding / payment built-in in the schemes, shall be as under:

Instrument Rate of interest w.r.t.,
01.10.2017 to 31.12.2017
Rate    of    interest  w.r.t.
01.01.2018 to 31.04.2018
Compounding
frequency*
Savings Deposit 4.0 4.0 Annually
l Year Time Deposit 6.8 6.6 Quarterly
2 Year Time Deposit 6.9 6.7 Quarterly
3  Year Time Deposit 7.1 6.9 Quarterly
5 Year Time Deposit 7.6 7.4 Quarterly
5 Year Recurring Deposit 7.1 6.9 Quarterly
5 Year Senior   Citizen Savings 8.3 8.3 Quarterly and paid
Scheme
5 Year Monthly Income Account 7.5 7.5 Monthly and paid
5 Year National  Savings Certificate 7.8 7.6 Annually
Public Provident Fund Scheme 7.8  7.6  Annually
Kisan  Vikas Patra 7.5 (will mature in 115   months) 7.3 (will mature   in 118 months)  Annually
Sukanya Samriddhi Account Scheme 8.3 8.1  Annually

*No Change

This has the approval of Finance Minister.

(Padam Singh)

Regional Director (Sr.)

Download / Read Revision of Interest Rates for Small Savings Schemes for fourth quarter of 2017-18 Finance Ministry Circular F.No.01/04/2016-NS dated 29.12.2017

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