On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, the Rates of Interest on various Small Savings Schemes for the Third Quarter of the Current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, 2018 have been announced. The Rates of Intereston the basis of the interest compounding/payment built-in in the Schemes, shall be as under:

Instrument	Rate of interest w.r.t. 01.07.2018 to 30.09.2018	Rate of interest w.r.t. 01.10.2018 to 31.12.2018	Compounding frequency*
Savings Deposit	4.0	4.0	Annually
1 Year Time Deposit	6.6	6.9	Quarterly
2 Year Time Deposit	6.7	7.0	Quarterly
3 Year Time Deposit	6.9	7.2	Quarterly
5 Year Time Deposit	7.4	7.8	Quarterly
5 Year Recurring Deposit	6.9	7.3	Quarterly
5 Year Senior Citizen Savings Scheme	8.3	8.7	Quarterly and paid
5 Year Monthly Income Account	7.3	7.7	Monthly and paid
5 Year National Savings Certificate	7.6	8.0	Annually
Public Provident Fund Scheme	7.6	8.0	Annually
Kisan Vikas Patra	7.3 (will mature in 118 months)	7.7 (will mature in 112 months)	Annually
Sukanya Samriddhi Account Scheme	8.1	8.5	Annually

* No Change

Small savings interest rates revised for the quarter, updating applicable rates and compounding frequencies across schemes. The Government revised interest rates for Small Savings Schemes for the quarter 1 October 2018 to 31 December 2018, following the quarterly notification process with approval of the Union Finance Minister. The announcement lists amended rates for Savings Deposit, 1/2/3/5 year Time Deposits, 5 year Recurring Deposit, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate, Public Provident Fund, Kisan Vikas Patra (with changed maturity months) and Sukanya Samriddhi Account, and records the compounding or payment frequency for each instrument.