Rate of interest w.e.f 1st January, 2021 and ending on 31st March, 2021 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.
F. No. 1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 30.12.2020
Office Memorandum
Subject: Revision of interest rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the fourth quarter of financial year 2020-21 starting from 1st January, 2021 and ending on 31st March, 2021 shall remain unchanged from those notified for the third quarter (1st October, 2020 to 31st December, 2020) of financial year 2020-21.
2. This has the approval of competent authority.
(Rajesh Panwar)
Deputy Director (NS)
Tele – 01123093170
***
Rate of Interest as compiled by TaxGuru Team
| SI. No. | Instruments | Rate of interest w.e.f.01.07.2020 to 30.09.2020 | Rate of interest w.e.f 01.10.2020 to 31.12.2020 (Unchanged) | Rate of interest w.e.f 01.01.2021 to 31.03.2021 (Unchanged) | Compounding Frequency* |
| 01. | Post Office Savings Account | 4.0 | 4.0 | 4.0 | Annually |
| 02. | 1 Year Time Deposit | 5.5 | 5.5 | 5.5 | Quarterly |
| 03. | 2 Year Time Deposit | 5.5 | 5.5 | 5.5 | Quarterly |
| 04. | 3 Year Time Deposit | 5.5 | 5.5 | 5.5 | Quarterly |
| 05. | 5 Year Time Deposit | 6.7 | 6.7 | 6.7 | Quarterly |
| 06. | 5 Year Recurring Deposit Scheme | 5.8 | 5.8 | 5.8 | Quarterly |
| 07. | Senior Citizen Savings Scheme | 7.4 | 7.4 | 7.4 | Quarterly and Paid |
| 08. | Monthly Income Account | 6.6 | 6.6 | 6.6 | Monthly and paid |
| 09. | National Savings Certificate (Vlllth Issue) | 6.8 | 6.8 | 6.8 | Annually |
| 10. | Public Provident Fund Scheme | 7.1 | 7.1 | 7.1 | Annually |
| 11. | Kisan Vikas Patra | 6.9 (will mature in 124 months) | 6.9 (will mature in 124 months) | 6.9 (will mature in 124 months) | Annually |
| 12. | Sukanya Samriddhi Account Scheme | 7.6 | 7.6 | 7.6 | Annually |
