Published On: Thu, Sep 20th, 2018

Government announces the Revision of interest rates for Small Savings Schemes

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On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, the Rates of Interest on various Small Savings Schemes for the Third Quarter of the Current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, 2018 have been announced. The Rates of Intereston the basis of the interest compounding/payment built-in in the Schemes, shall be as under:

InstrumentRate of interest w.r.t. 01.07.2018 to 30.09.2018Rate of interest w.r.t. 01.10.2018 to 31.12.2018Compounding frequency*
Savings Deposit4.04.0Annually
1 Year Time Deposit6.66.9Quarterly
2 Year Time Deposit6.77.0Quarterly
3 Year Time Deposit6.97.2Quarterly
5 Year Time Deposit7.47.8Quarterly
5 Year Recurring Deposit6.97.3Quarterly
5 Year Senior Citizen Savings Scheme8.38.7Quarterly and paid
5 Year Monthly Income Account7.37.7Monthly and paid
5 Year National Savings Certificate7.68.0Annually
Public Provident Fund Scheme7.68.0Annually
KisanVikasPatra7.3 (will mature in 118 months)7.7 (will mature in 112 months)Annually
SukanyaSamriddhi Account Scheme8.18.5Annually

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