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
Good Scheme