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Saturday, April 4, 2015

Revision of interest rates for small savings schemes

Revision of interest rates for small savings schemes

No.6/01/2011-NS.II
Government Of India
Ministry Of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated : 31st March, 2015.

OFFICE MEMORANDUM

Subject: Revision of interest rates for small savings schemes.

The undersigned is directed to refer to decision taken by the Government regarding revision of interest rate on small savings schemes on an annual basis.

2. Accordingly, the rates of interest on various small savings schemes for the financial year 2015-16 effective from 01.04.2015, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:-


Scheme
Rate of interest w.e.f. 01.04.2014
Rate of Interest w.e.f. 01.04.2015
1.
2.
3.
Savings Deposit
4.0
4.0
1 year Time Deposit
8.4
8.4
2 Year Time Deposit
8.4
8.4
3 Year Time Deposit
8.4
8.4
5 Year Time Deposit
8.5
8.5
5 Year Recurring Deposit
8.4
8.4
5 Year SCSS
9.2
9.3
5 Year MIS
8.4
8.4
5 Year NSC
8.5
8.5
10 Year NSC
8.8
8.8
PPF
8.7
8.7
Kisan Vikas Patra
8.7
8.7
Sukanya Samtiddhi Account Scheme
9.1
9.2

3. Necessary notifications will be notified separately.

4. this has the approval of Finance Minister.

Sd/-
(Dr.Rajat Bhargava)
Joint Secretary to the Government of India

Source: http://www.finmin.nic.in/the_ministry/dept_eco_affairs/budget/InterestRate_SmallSaving_31032015.pdf

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