Update on 01.04.2021 at 09.00 AM: Tweet by FMInterest 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 Orders issued by oversight shall be withdrawn.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

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One Comment

  1. G B Bhosale says:

    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.

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