Rate of interest w.e.f 01.07.2020 to 30.09.2020 on Small Savings Scheme i.e. Post Office Savings Account, 1,2,3,5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate (VIII Issue), Public Provident Fund Scheme, Kisan Vikas Patra and Sukanya Samriddhi Account scheme.

SB Order 24/2020

e.F.No 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi-110001
Dated: 01.07.2020

To,

All Head of Circles/Regions

Subject : Revision of interest rates for Small Savings Schemes w.e.f. 01.07.2020

Sir/Madam,

The undersigned is directed to say that vide memorandum No. 01/04/2019-NS dated 30.06.2020 (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 second quarter of financial year 2020-21 (starting from 1s1 July, 2020 and ending on 30th September, 2020) shall remain unchanged from those notified for the first quarter of Financial Year 2020-21 (01st April. 2020 to 30th June, 2020). The details are indicated below for ready reference.

SI. No. instruments Rate of interest w.e.f.01.04.2020 to 30.06.2020 Rate of interest w.e.f 01.07.2020
to 30.09.2020 (Unchanged)
Compounding
Frequency*
01. Post Office Savings Account 4.0 4.0 Annually
02. I Year Time Deposit 5.5 5.5 Quarterly
03. 2 Year Time Deposit 5.5 5.5 Quarterly
04. 3 Year lime Deposit 5.5 5.5 Quarterly
05. 5 Year lime 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
(VIII Issue)
6.8 6.8 Annually
10, Public Provident Fund Scheme 7. I 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

3. 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.

4. This issues with the approval of Competent Authority.

Yours Faithfully,

(Devendra Sharma)
Assistant Director (SB)

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 (Planning & HRD)/ 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. 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-1 10002

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: 30.06.2020

OFFICE MEMORANDUM

Subject: Revision of interest rates for Small Savings Schemes – reg.

The rates of interest on various Small Savings Schemes for the second quarter of financial year 2020-21 starting from 1st July, 2020 and ending on 30th September, 2020 shall remain unchanged from those notified for the first quarter (1st April, 2020 to 30th June, 2020) of financial year 2020-21.

2. This issues with the approval of competent authority.

(Rajesh Panwar)
Dy. Director (NS)
Tele 01123093170

To,

1. ES & Secretary (Department of Revenue), North Block, New Delhi.

2. The Secretary, Department of Economic Affairs, North Block, New Delhi.

3. The Secretary, Department of Financial Services, Jeevan Deep Building, Parliament Street, New Delhi.

4. The Secretary, Department of Expenditure, North Block. New Delhi.

5. The Secretary, Department of Posts, Dak Bhawan, New Delhi.

6. The HoO, National Savings Institute, New Delhi.

7 The Chief General Manager, Department of Govt. & Bank Accounts, Reserve Bank of India, Central Office, Mumbai.

8. Reserve Bank of India, Central Account Section, Additional Office Section, East High Court Road, Nagpur – 440 001.

9. Chief Secretaries of State/UT Governments

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