PPF Interest reduced to 8.1% in First Quarter of 2016-17

PPF Interest reduced to 8.1% in First Quarter of 2016-17 – Interest Rates for all other Small Savings Schemes such as NSC, Kisan Vikas Patra Sukanya Samriddhi Account etc also reduced

PPF Interest reduced to 8.1%

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 Income Account 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