Press Information Bureau

Government of India

Ministry of Finance

20-June-2016 17:11 IST

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 second 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. 01.04.2016 to 30.6.2016	Rate of interest w.e.f. 01.07.2016 to 30.9.2016	Compounding frequency
Savings Deposit	4.0	4.0	Annual
1 Year Time Deposit	7.1	7.1	Quarterly
2 Year Time Deposit	7.2	7.2	Quarterly
3 Year Time Deposit	7.4	7.4	Quarterly
5 Year Time Deposit	7.9	7.9	Quarterly
5 Year Recurring Deposit	7.4	7.4	Quarterly
5 Year Senior Citizens Savings Scheme	8.6	8.6	Quarterly and paid
5 year Monthly Income Account Scheme	7.8	7.8	Monthly and paid
5 Year National Savings Certificate	8.1	8.1	Annual
Public Provident Fund Scheme	8.1	8.1	Annual
KisanVikasPatra	7.8 (will mature in 110 months)	7.8 (will mature in 110 months)	Annual
SukanyaSamriddhi Account Scheme	8.6	8.6	Annual

*****

AR/KA

 

Small savings interest rates unchanged for the next quarter across designated government savings schemes, per official notification. Quarterly notification sets scheme-specific interest rates and compounding/payment frequencies for government small savings instruments, listing each instrument with its effective rate for the applicable quarter and applying those rates according to each scheme's compounding or payout terms; covered instruments include savings and time deposits, recurring deposits, Senior Citizens Savings Scheme, Monthly Income Account, National Savings Certificate, Public Provident Fund, Kisan Vikas Patra (with stated maturity tenor), and Sukanya Samriddhi Account.