Update on 01.04.2021 at 09.00 AM: Tweet by FM– Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn. Read: Govt withdraws reduction in Small Saving interest Rates
Update on 31.03.2021 based on below Office Memorandum – Government reduces Interest rates on small saving schemes, including PPF, NSC, Senior Citizen Savings Schemes, Sukanya Samriddhi Account Scheme, Kisan Vikas Patra for the first quarter (Q1) of financial year 2021 with effect from April 1.
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 31.03.2021
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
In exercise of the powers conferred by Rule 9(1) of the Government Savings Promotion General Rules, 2018, the rates of interest on various Small Savings Schemes for the first quarter of financial year 2021-22 starting from 1st April, 2021 and ending on 30th June, 2021 have been revised as indicated below:
| Instruments | Rates of interest from 01.01.2021 to 31.03.2021 |
Rates of interest from 01.04.2021 to 30.06.2021 |
Compounding frequency* |
|---|---|---|---|
| Savings Deposit | 4.0 | 3.5 | Annually |
| 1 Year Time Deposit | 5.5 | 4.4 | Quarterly |
| 2 Year Time Deposit | 5.5 | 5.0 | Quarterly |
| 3 Year Time Deposit | 5.5 | 5.1 | Quarterly |
| 5 Year Time Deposit | 6.7 | 5.8 | Quarterly |
| 5 Year Recurring Deposit | 5.8 | 5.3 | Quarterly |
| Senior Citizen Savings Schemes | 7.4 | 6.5 | Quarterly and paid |
| Monthly Income Account | 6.6 | 5.7 | Monthly and paid |
| National Savings Certificate | 6.8 | 5.9 | Annually |
| Public Provident Fund Scheme | 7.1 | 6.4 | Annually |
| Kisan Vikas Patra | 6.9 (will mature in 124 months) |
6.2 (will mature in 138 months) | Annually |
| Sukanya Samriddhi Account Scheme | 7.6 | 6.9 | Annually |
*No change.
2. This has the approval of competent authority.
Rajesh Panwar
Deputy Director (NS)
Tele – 01123093170
Government has done GBGM with pensioner compared to position of 2044 consumer index increased by 44% where as income of pensioners decrease by 27.68% same time pension increased by only 25% thus total deficiency is 46.68%
In the other word pesooner should die.