Revision of interest rates for Small Savings Schemes

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....evision of interest rates for Small Savings Schemes <br>Budget<br>Dated:- 29-6-2019<br><BR>F.No.01/04/2016-NS Government of India Ministry of Finance Department of Economic Affairs (Budget Division) North Block, New Delhi Dated: 28.06.2019 Subject: Revision of interest rates for Small Savings Schemes. The undersigned is directed to refer to this Department&#39;s OM of even number dated 16....

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....th 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 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 financia....

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....l year 2019-20 starting 1st July, 2019, and ending on 30th September, 2019, on the basis of the interest compounding / payment built-in in the schemes, shall be as under: Instrument Rate of interest w.r.t. 01.04.2019 to 30.06.2019 Rate of interest w.r.t. 01.07.2019 to 30.09.2019 Compounding frequency* Savings Deposit 4.0 4.0 Annually 1 Year Time Deposit 7.0 6.9 Quarterly 2 Ye....

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....ar Time Deposit Quarterly 3 Year Time Deposit Quarterly 5 Year Time Deposit 7.8 7.7 Quarterly 5 Year Recurring Deposit 7.3 7.2 Quarterly 5 Year Senior Citizen Savings Scheme 8.7 8.6 Quarterly and paid 5 Year Monthly Income Account 7.7 7.6 Monthly and paid 5 Year National Savings Certificate 8.0 7.9 Annually Public Provident Fund Scheme 8.0 7.9 Annually K....

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....isan Vikas Patra 7.7 (will mature in 112 months) 7.6 (will mature in 113 months) Annually Sukanya Samriddhi Account Scheme 8.5 8.4 Annually * No Change 3. This has the approval of Finance Minister. (Akhilesh Kumar Mishra) Director Tele -01123095024<BR> News - Press release - PIB....