F.No.01/04/2016-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi Dated: 29.03.2019

Office Memorandum

Subject: Revision of interest rates for Small Savings Schemes.

On the basis of the decision of the Government, interest rates for small savings schemes are notified on quarterly basis since April, 2016. Accordingly, the rates of interest on various small savings schemes for the first quarter of financial year 2019-20 staring 1st April, 2019 and ending on 30th June, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19.

2. This has the approval of Finance Minister.

(Akhilesh Kumar Misra))
Director
Tele : 01123092744

Rates from 1st April, 2019 and ending on 30th June, 2019 shall be as follows:-

Instructions Rate of interest w.e.f. 01.04.2019 to 30.06.2019 Compounding Frequency*
Saving Deposit 4.0 Annually
1 Year Time Deposit 7.0 Quarterly
2 Year Time Deposit Quarterly
3 Year Time Deposit Quarterly
5 Year Time Deposit 7.8 Quarterly
5 Year Recurring Deposit 7.3 Quarterly
5 Year Senior Citizen Savings Scheme 8.7 Quarterly and Paid
5 Year Monthly Income Account 7.7 Monthly and paid
5 Year National Savings Certificate 8.0 Annually
Publilc Provident Fund Scheme 8.0 Annually
Kisan Vikas Patra 7.7 (will mature in 112 months) Annually
Sukanya Samriddhi Account Scheme 8.5 Annually

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2 Comments

  1. S KRISHNAN says:

    it is good that the interest rate for S C S S has been kept at 8.7% for the April – June 2019 quarter ; with fanfare P M announced P M V V Y exclusively for Senior Citizen pension
    scheme , @ 8% p. a. payable monthly also ;
    which is very low ; why not increase the interest rate for this also @ 8.7% and made applicable with i immediate effect even for those who have already invested in P M V V Y
    earlier .

  2. Rlarora says:

    Under senior citizens saving scheme 2004 SBI has paid interest during December, and March quarter @8.30percent instead of 8.70 percent.

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