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Revision of interest rates for Small Savings Schemes

Revision of interest rates for Small Savings Schemes – First quarter of financial year 2020- 21 starting from 1st April, 2020 and ending on 30th 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, 201 8, 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 7.1 Annually
Kisan Vikas Patra 7.6 (will mature in 1 13 months) 6.9 (will mature in 124 months) Annually
Sukanya Samriddhi Account Scheme 8.4 7.6 Annually

 

2. This has the approval of Finance

Sd/-
(Rajesh Panwar)
Dy. Director (Budget)

To,

  1. FS & Secretary (Department of Revenue), North Block , New Delhi.
  2. The Secretary , Department of Economic Affairs, North Block, New
  3. The Secretary, Department of Financial Services, Jeevan Deep Building, Parliament Street, New Delhi.
  4. The Secretary, Department of Expenditure , North Block, New Delhi.
  5. The Secretary, Department of Posts, Dak Bhawan, New Delhi.
  6. The JD & HoD, National Savings Institute, New Delhi.
  7. The Chief General Manager, Department of & Bank Accounts, Reserve Bank of India, Central Office, Mumbai.
  8. Reserve Bank of India, Central Account Section, Additional Office Section, East High Court Road, Nagpur- 440
  9. Chief Secretaries of State/UT

Source: DEA

Also check the following links related to this topic:

Interest rates for Various Small Savings Schemes w.e.f. 01.01.2020

Revision of interest rates for Small Savings Schemes

Interest rates for Small Savings Schemes from 01.07.2019 to 30.09.2019

Post Office Saving Schemes and their Interest rates

Interest Rates for Small Savings Schemes from April to June 2019

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