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Revision of interest rates for Small Savings Schemes – Fin Min Orders

May 25, 2016 By admin Leave a Comment

F.No. 1/04/2016·NS.11
Government of India
Ministry of Finance Department of Economic Affairs (Budget Division)

North Block, New Delhi
Dated: 18th March, 2016

OFFICE MEMORANDUM

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 decisions 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 first quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:

Instrument Rate of Interest W.E.F 01.04.2015 to 31.03.2016 Rate of Interest w.e.f 01.04.2016 to 30.06.2016
Savings Deposit 4 4
1 Year Time Deposit 8.4 7.1
2 Year Time Deposit 8.4 7.2
3 Year Time Deposit 8.4 7.4
5 Year Time Deposit 8.5 7.9
5 Year Recurring Deposit 8.4 7.4
5 Year Senior Citizens Savings Deposit 9.3 8.6
5 Year Monthly IncomeAccount scheme 8.4 7.8
5 Year National Savings Certificate 8.5 8.1
Public Provident Fund Scheme 8.7 8.1
Kisan Vikas Patra 8.7 7.8 (Will Mature in 110 Months)
Sukanya Samriddhi Account Scheme 9.2 8.6

Download Circular

Related posts:

  1. Interest Rates on Post Office Saving Scheme
  2. 7.9% General Provident Fund Interest for the last Quarter (October 2019 – December 2019)
  3. Revision of interest rates for Small Savings Schemes
  4. Revision of interest rates for Small Savings Scheme
  5. Inclusion of Aadhaar in respect of Small Savings Schemes

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