Press Information Bureau
Government of India
Ministry of Finance
Date: 20-June-2016

Quarterly Revision of Interest Rates for Small Savings Schemes

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 second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:

Instrument Rate of interest w.e.f. 01.04.2016 to 30.6.2016 Rate of interest w.e.f. 01.07.2016 to 30.9.2016 Compounding frequency
Savings Deposit 4.0 4.0 Annual
1 Year Time Deposit 7.1 7.1 Quarterly
2 Year Time Deposit 7.2 7.2 Quarterly
3 Year Time Deposit 7.4 7.4 Quarterly
5 Year Time Deposit 7.9 7.9 Quarterly
5 Year Recurring Deposit 7.4 7.4 Quarterly
5 Year Senior Citizens Savings Scheme 8.6 8.6 Quarterly and paid
5 year Monthly Income Account Scheme 7.8 7.8 Monthly and paid
5 Year National Savings Certificate 8.1 8.1 Annual
Public Provident Fund Scheme 8.1 8.1 Annual
Kisan Vikas Patra 7.8 (will mature in 110 months) 7.8 (will mature in 110 months) Annual
Sukanya Samriddhi Account Scheme 8.6 8.6 Annual

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Category : Income Tax (26745)
Type : News (13418)

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