MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION

New Delhi, the 5th May, 2020

G.S.R. 289 (E).—In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme to amend the National Savings Time Deposit Scheme, 2019, namely:-

1. (1) This Scheme may be called the National Savings Time Deposit (Amendment) Scheme, 2020.

2. They shall be deemed to have come into force on the 1st day of April, 2020.

2. In the National Savings Time Deposit Scheme, 2019 (hereinafter referred to as the said Scheme), in paragraph 7, in sub-paragraph (1),-

(a) In the Hindi version, at page 159, line 7, for “7.9”, read “7.7”.

(b) after the words “shall be applicable to the deposits”, the following shall be inserted, namely:-

“made between 12th December, 2019 to 31st March, 2020 (both days inclusive)”;

(c) after the table, the following sub-paragraph shall be inserted, namely:-

“1(A) The rate of interest as specified in the table below shall be applicable to the deposits made on or after the 1st day of April, 2020 under the Scheme.”

Sl. No. Category of account Rate of Interest  (per cent. Per annum)
(1) (2)
1. One-year 5.5
2. Two-year 5.5
3. Three-year 5.5
4. Five-year 6.7

[F. No. 1/04/2019-NS]

RAJAT KUMAR MISHRA, Jt. Secy.

Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide notification no. G.S.R. 922(E), dated the 12th December, 2019

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