Sunday, 30 June 2019

Revised Interest rates for Small Savings Schemes from 01.07.2019 to 30.09.2019 i.e. for 2nd quarter of F.Y. 2019-20

Revised Interest rates for Small Savings Schemes from 01.07.2019 to 30.09.2019 i.e. for 2nd quarter of F.Y. 2019-20

revision-of-interest-rate-for-small-saving-schemes-dated-28.06.2019

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'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.

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 financial 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. 0l.04.2019 to 30.06.2019
Rate of interest w.r.t. 0l.07.2019 to 30.09.2019
Compounding frequency*
Savings Deposit 4.0 4.0 Annually
l Year Time Deposit 7.0 6.9 Quarterly
2 Year 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
Kisan 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

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. The Director National Savings Institute New Delhi.
  6. Chief General Manager Department of Govt. & Bank Accounts Reserve Bank of India Central Office, Mumbai.
  7. Reserve Bank of India Central Account Section Additional Office Section East High Court Road Nagpur - 440 001.
  8. Chief Secretaries of States/UT Governments.

[https://dea.gov.in/sites/default/files/Q2_0.pdf]


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