Interest rates for Small Savings Schemes

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....nterest rates for Small Savings Schemes <br>FEMA & RBI<br>Dated:- 9-2-2017<br><BR>RBI/2016-17/225 DGBA.GAD.2012/15.02.005/2016-17 February 9, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circul....

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....ar DGBA.GAD.881/15.02.005/2016-17 dated October 13, 2016 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.1/04/2016-NS.II dated December 30, 2016 advised the rate of interest on various small savings schemes for the fourth quarter of the financial year 2016-17 (copy enclosed). 2. The contents of this circular may be brought to the notice of the branches....

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.... of your bank operating Government Small Saving Schemes for necessary action. These should also be displayed on the notice boards of your branches for information of the subscribers to these Schemes. Yours faithfully (V.S. Prajish) Assistant General Manager &nbsp; Encl : as above ============= Document 1 F.No. 1/04/2016-NS.II Government of India Ministry of Finance Department of Economic ....

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....Affairs (Budget Division) North Block, New Delhi Dated: December 30, 2016 Subject: OFFICE MEMORANDUM 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 a....

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....ll concerned. 2. 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 fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31 March, 2017, on the basis of the interest compounding/payment built-i the schemes, sha....

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....ll be as under: Instrument Rate of interest Compounding w.e.f. 01.01.2017 frequency* Rate of interest w.e.f. 01.10.2016 to 31.12.2016 to 31.03.2017 Savings Deposit 4.0 4.0 Annually 1 Year Time Deposit 7.0 7.0 Quarterly 2 Year Time Deposit 7.1 7.1 Quarterly 3 Year Time Deposit 7.3 7.3 Quarterly 5 Year Time Deposit 7.8 7.8 Quarterly 5 Year Recurring Deposit 7.3 7.3 Qua....

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....rterly 5 Year Senior Citizens Savings 8.5 Scheme 8.5 Quarterly and paid 5 year Monthly Income Account 7.7 Scheme 7.7 5 Year National Certificate Savings 8.0 8.0 Monthly paid Annually and Public Provident Fund Scheme Kisan Vikas Patra 8.0 8.0 Annually Sukanya Samriddhi Account 8.5 7.7 (will mature in 7.7 (will mature in Annually 112 months) 112 months) 8.5 Annually Sch....

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....eme âš« No change 3. This has the approval of Finance Minister. To 1.The Secretary. Department of Expenditure North Block New Delhi (Vyasan R.) Deputy Secretary to the Government of India Tele: 01123092326 2.The Secretary. Department of Revenue North Block New Delhi. 3.The Secretary, Department of Economic Affairs North Block New Delhi. 4.The Secretary, Department of Financ....

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....ial - Services Jeevandeep Building Parliament Street, New Delhi. 5.The Secretary Department of Posts Dak Bhawan, New Delhi. 7.Reserve Bank of India Central Accounts Section Additional Office Section East High Court Road Nagpur-440001. 9. The Director National Savings Institute Delhi. 6.Chief General Manager Department of Govt. & Bank Accounts Reserve Bank of India Central Office....

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.... Mumbai. 8. Chief Secretaries of States/UT Governments.<BR> News - Press release - PIB....