SB Order No. 38/2020
e.F.No 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(FS Division)
Dak Bhawan, New Delhi-110001
Dated: 31.12.2020
To,
All Head of Circles/Regions
Subject ; Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.01.2021
Sir/Madam,
The undersigned is directed to say that vide memorandum No. 1/4/2019-NS dated 30.12.2020 (copy enclosed). Govt. of India, Ministry of Finance, Department of Economic Affairs
(Budget Division) have informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31th March, 2021) shall remain unchanged from those notified for the third quarter of Financial Year 2020-21 (1st October, 2020 to 31st December, 2020). The details are indicated below for ready reference: –
| Si. No. | Instruments | Rate of interest w.e.f. 01.10.2020 to 31.12.2020 | Rate of interest w.e.f 01.01.2021 to 31.03.2021 (Unchanged) | Compounding Frequency* |
| 01. | Post Office Savings Account | 4.0 | 4.0 | Annually |
| 02. | 1 Year Time Deposit | 5.5 | 5.5 | Quarterly |
| 03. | 2 Year Time Deposit | 5.5 | 5.5 | Quarterly |
| 04. | 3 Year Time Deposit | 5.5 | 5.5 | Quarterly |
| 05. | 5 Year Time Deposit | 6.7 | 6.7 | Quarterly |
| 06. | 5 Year Recurring Deposit Scheme | 5.8 | 5.8 | Quarterly |
| 07. | Senior Citizen Savings Scheme | 7.4 | 7.4 | Quarterly and Paid |
| 08. | Monthly Income Account | 6.6 | 6.6 | Monthly and paid |
| 09. | National Savings Certificate (VIIIth Issue) | 6.8 | 6.8 | Annually |
| 10. | Public Provident Fund Scheme | 7.1 | 7.1 | Annually |
| 11. | Kisan Vikas Patra | 6.9 (will mature in 124 months) | 6.9 (will mature in 124 months) | Annually |
| 12. | Sukanya Samriddhi Account Scheme | 7.6 | 7.6 | Annually |
2. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area.
3. This issues with the approval of Competent Authority.
Yours Faithfully,
(Devendra Sharma)
Assistant Director (SB-II)
Copy to:-
1. PPS to Secretary (Posts)
2. PS to Director General Postal Services.
3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/ Member (0)/ Member (P)/ Member (PlanninL, & FIRD)/ Member (PLI)/ Member (Tech)/AS & FA
4. Director General, APS, New Delhi
5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate
6. Deputy Director General (Vigilance) & CVO) / Sr. Deputy Director General (PAF)
7. Director, RAKNPA / GM, CEPT / Directors of all PTCs
8. Director General P & T (Audit), Civil Lines, New Delhi
9. Secretary, Postal Services Board/ All Deputy Directors General
10. All General Managers (Finance) / Directors Postal Accounts / DDAP
11. Chief Engineer (Civil), Postal Directorate
12. All Sections of Postal Directorate
13. All recognized Federations / Unions/ Associations
14. GM, CEPT for uploading the order on the India Post website.
15. MOF (DEA), NS-II, North Block, New Delhi.
16. Joint Director & HOD, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002
17. Guard File
18. Spare copies.
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 30.12.2020
Office Memorandum
Subject: Revision of interest rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the fourth quarter of financial year 2020-21 starting from 1st January, 2021 and ending on 31st March, 2021 shall remain unchanged from those notified for the third quarter (1st October, 2020 to 31st December, 2020) of financial year 2020-21.
2. This has the approval of competent authority.
1. The Finance Secretary
Ministry of Finance
Department of Revenue
North Block, New Delhi.
2. The Secretary
Department of Financial Services
Jeevan Deep Building, New Delhi.
3. The Secretary
Department of Expenditure
North Block, New Delhi.
4. The Secretary
Department of Economic Affairs
North Block, New Delhi.
5. The Secretary
Department of Posts
Dak Bhawan, New Delhi
6. The 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 State/UT Governments.
9. The Joint Director
National Savings Institute New Delhi.
