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,
Government of India
Ministry of Finance
Department of Economic Affairs
North Block, New Delhi
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
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
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
This has the approval of Finance Minister.
Regional Director (Sr.)