Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.01.2021
Revision of interest rates for National (Small) Savings Schemes for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31st March, 2021)
SB Order No. 38/2020
e.F.No 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(FS Division)
Dak Bhawan, New Delhi-110001
Dated: 31.12.2020
To,
All Head of Circles/Regions
Subject: Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.01.2021
Sir/Madam,
The undersigned is directed to say that vide memorandum No. 1/4/2019-NS dated 30.12.2020 (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 (National Savings Schemes) for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31st March, 2021) shall remain unchanged from those notified for the third quarter of Financial Year 2020-21 (01st October, 2020 to 31st December, 2020). The details are indicated below for ready reference: –
| SI. No. | Instruments | Rate of interest w.e.f. 01.10.2020 to 31.12.2020 | Rate of interest w.e.f 01.01.2021 to 31.03.2021 (Unchanged) | Compounding Frequency* |
| 0 I. | Post Office Savings Account | 4 .0 | 4.0 | Annually |
| 02. | I Year Time Deposit | 5.5 | 5.5 | Quarterly |
| 03. | 2 Year Time Deposit | 5.5 | 5.5 | Quarterly |
| 04. | 3 Year Time Deposit | 5.5 | 5.5 | Quarterly |
| 05. | 5 Year Time Deposit | 6.7 | 6.7 | Quarterly |
| 06. | 5 Year Recurring Deposit Scheme | 5.8 | 5.8 | Quarterly |
| 07. | Senior Citizen Savings Scheme | 7.4 | 7.4 | Quarterly and Paid |
| 08. | Monthly Income Account | 6.6 | 6.6 | Monthly and paid |
| 09. | National Savings Certificate (VIIIth Issue) | 6.8 | 6.8 | Annually |
| 10. | Public Provident Fund Scheme | 7.1 | 7.1 | Annually |
| 11. | Kisan Vikas Patra | 6.9 (will mature in 124 months) |
6.9 (will mature in 124 months) |
Annually |
| 12. | Sukanya Samriddhi Account Scheme | 7.6 | 7.6 | Annually |
2. 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.
3. This issues with the approval of Competent Authority.
Yours Faithfully,
(Devendra Sharma)
Assistant Director (SB-II)
Enclosure: Interest rates for Small Savings Schemes 4th quarter of 2020-21 from 1st Jan, 2021 to 31st Mar 2021
Copy to:-
1. Sr. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
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Also check the following links related to this topic:
Relaxation guidelines in small savings schemes – DOP