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Wednesday, 2 January 2019

Small Savings Scheme - Revised Interest rates : Dept. of Post SB order No. 14/2018

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Small Savings Scheme - Revised Interest rates : Dept. of Post SB order No. 14/2018

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SB Order No. 14/2018
F.No 113-03/2017-SB
Govt. of India
Ministry of Communication
Department of Posts
(F.S. Division)


Dak Bhawan, New Delhi-110001
Dated: 31.12.2018

To,

All Head of Circles/Regions
Addl. Director General, APS, New Delhi
Subject :- Revision of interest rates for Small Savings Schemes.
Sir/Madam,
[post_ads]

The undersigned is directed to say that vide memorandum No. 01/04/2016-NS dated 31.12 2018 (copy enclosed), Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has revised interest rates of small savings schemes for the fourth quarter of the financial year 2018-19 starting 1st January, 2019 and ending on 31st March, 2019 on the basis of interest compounding/payment built-in in the schemes, as under:- 

Sl. No. 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*
01. Saving Deposit 4.0 4.0 Annually
02. 1 Year Time Deposit 6.9 7.0 Quarterly
03. 2 Year Time Deposit 7.0 7.0 Quarterly
04. 3 Year Time Deposit 7.2 7.0 Quarterly
05. 5 Year Time Deposit 7.8 7.8 Quarterly
06. 5 Year Recurring Deposit 7.3 7.3 Quarterly
07. 5 Year Senior Citizen Account Scheme 8.7 8.7 Quarterly and Paid
08. 5 Year Monthly Income Account 7.7 7.7 Monthly and paid
09. 5 Year National Savings Certificate 8.0 8.0 Annually
10. Publilc Provident Fund Scheme 8.0 8.0 Annually
11. Kisan Vikas Patra 7.7 (will mature in 112 months) 7.7 (will mature in 112 months) Annually
12. Sukanya Samriddhi Account Scheme 8.5 8.5 Annually

3. It is requested to circulate these changes to all concered for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in Public area. The necessary calculation tables will be supplied in due course.

4. This issue with the approval of Competent Authority.

Read Department of Economics Affairs' Order F.No.01/0412016-NS dated 31.12.2018 (Click here)

Yours Faithfully,
sd/-
(Devendra Sharma)
Assistant Director (SB-II)

Copy to:-
  1. DDG (FS)/DDG (VlG)/JS&FA/DDG (PAF)/DDG (RB)/DDG (Estt.)/DDG(PG & Inspections)/DDG (PCO)
  2. Director (FS)/Director (CBS), Dak Bhawan.
  3. Director of Audit (P&T), Delhi.
  4. All Directors/Dy. Directors of Accounts, Postal
  5. Director, RAKNPA, Ghaziabad.
  6. Directors, Postal Training Centres.
  7. Director CEPT Mysore for uploading the SB order on India Post Web Site.
  8. Dy. Director CEPT, DMCC/SDC O/o CPMG T.N.Circle. for taking up necessary changes in CBS and Sanchaya Post with concerned teams urgently.
  9. AD/Inspection/PF/Vigilance
  10. All Accounts Officers ICO(SB)
  11. All recognized unions.
  12. MOF(DEA), NS-II, North Block, New Delhi
  13. Director, NSI, CGO Complex, ‘A’ Wing, 4th Floor, Seminary Hills, Nagpur-440006
  14. PPS to Secretary Posts.
  15. PS to Member (Banking).

Source: Dept of post
[http://utilities.cept.gov.in/dop/pdfbind.ashx?id=3129]


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