Wednesday, 2 January 2019

Revised rates of interest for Small Savings Schemes for fourth quarter of F.Y. 2018-19 w.e.f 01.01.2019 to 31.03.2019 - DoEA Order dated 31.12.2018

Revised rates of interest for Small Savings Schemes for fourth quarter of F.Y. 2018-19 w.e.f 01.01.2019 to 31.03.2019 - DoEA Order dated 31.12.2018


F.No.01/0412016-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 31.12.2018

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.

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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 2018-19 starting 1st January, 2019, and ending on 31st March, 2019, on the basis of the interest compounding / payment built-in in the schemes, shall be as under: 

Instructions Rate of interest w.e.f. 01.10.2018 to 31.12.2018 Rate of interest w.e.f. 01.01.2019 to 31.03.2019 Compounding Frequency*
Saving Deposit 4.0 4.0 Annually
1 Year Time Deposit 6.9 7.0 Quarterly
2 Year Time Deposit 7.0 Quarterly
3 Year Time Deposit 7.2 Quarterly
5 Year Time Deposit 7.8 7.8 Quarterly
5 Year Recurring Deposit 7.3 7.3 Quarterly
5 Year Senior Citizen Savings Scheme 8.7 8.7 Quarterly and Paid
5 Year Monthly Income Account 7.7 7.7 Monthly and paid
5 Year National Savings Certificate 8.0 8.0 Annually
Publilc Provident Fund Scheme 8.0 8.0 Annually
Kisan Vikas Patra 7.7 (will mature in 112 months) 7.7 (will mature in 112 months) Annually
Sukanya Samriddhi Account Scheme 8.5 8.5 Annually
*No Change

3. This has the approval of Finance Miniter.

(Akhilesh Kumar Mishra)
Director
Tele: 01123095024

To
1. The Secretary
Department of Expenditure
North Block, New Delhi.
2. The Secretary
Department of Revenue
North Block, New Delhi.
3. The Secretary
Department of Posts
Dak Bhawan
New Delhi
4. The Secretary
Department of Financial Services, Jeevan Deep
Building
Parliament Street, New Delhi.
5. Chief General Manager
Department of Govt. & Bank Accounts
Reserve Bank of India
Central Office, Mumbai.
6. Reserve Bank of India
Central Account Section
Additional Office Section
East High Court Road
Nagpur - 440 001.
7. Chief Secretaries of States/UT Governments. 8. The Director
National Savings Institute, New Delhi.



reviseed-interest-rates-for-small-saving-scheme


Source: DoEA (Click to view/download signed pdf)
[https://dea.gov.in/sites/default/files/Interest%20rates%20for%204th%20quarter%20of%20FY%202018-19.pdf]

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