F.No. 1/04/2016-NS.II
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi Dated: December 30, 2016

OFFICE MEMORANDUM

Subject: Revision of interest rates for Small Savings Schemes.

The undersigned is directed to refer to this Departments OM of even number dated 16th February, 2016, vide which the various decisions taken by the Government regarding interest fixation for small savings schemes were communicated to all concerned.

Also Read- Interest rates on Small Savings Schemes for Oct,16 to -Dec,16

2. On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis Accordingly, the rates of interest on various small savings schemes for the fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31st March,2017, on the basis of the interest compounding/payment built- in the schemes, shall be as under:

Instrument Rate     of   interest w.e.f.     01.10.2016
to 31.12.2016
Rate of   interest w.e.f.     01.01.2017
to 31.03.2017
Compounding frequency*
Savings Deposit 4A 4.0 Annually
1 Year Time Deposit 7.0 7.0 Quarterly Quarterly
2 Year Time Deposit 7.1 7.1
3 Year Time Deposit 7.3 7.3 Quarterly Quarterly
5 Year Time Deposit 7.8 7.8
5 Year Recurring Deposit 7.3 7.3 Quarterly Quarterly     and
paid
5 Year Senior Citizens Savings Scheme 8.5 8.5
5 year Monthly Income Account Scheme 7.7 7.7 Monthly       and
paid
5        Year     National    Savings
Certificate
8.0 8.0 Annually
Public Provident Fund Scheme 8.0 8.0 Annually
Kisan Vikas Patra 7.7 (will mature in 112 months) 7.7 (will mature in 112 months) Annually
Sukanya      Samriddhi  Account Scheme 8.5 8.5 Annually

No change

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3. This has the approval of Finance Minister.

To
1. The Secretary.

Department of Expenditure North Block

New Delhi.

2. The Secretary,

Department of Revenue

North Block New Delhi.

3. The Secretary,

Department of Economic Affairs North Block

New Delhi.

4. The Secretary,

Department of Financial -Services

Jeevandeep Building Parliament Street, New Delhi.

5. The Secretary

Department of Posts Dak Bhawan, New Delhi

6. Chief General Manager Department of Govt. & Bank Accounts

Reserve Bank of India

Central Office

Mumbai.

7. Reserve Bank of India Central Accounts Section Additional Office Section East High Court Road Nagpur-440001. 8. Chief Secretaries of States/UT Governments.
9. The Director

National Savings Institute Delhi.

More Under Income Tax

Posted Under

Category : Income Tax (25145)
Type : Featured (4133) Instructions (842) Notifications/Circulars (30276)

2 responses to “Interest rate of PPF, SCSC, Sukanya Samridhi, NSC wef 01.01.2017”

  1. Neelam Rani says:

    Relief in interest rate on house loan should
    also be given to all including those who
    have taken loan before 2017.

  2. Uma Shanker says:

    exelent, Plz make it regular end enclude the various borrowing rate with Housing loan

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