Quarterly Revision of Interest Rates for Small Savings Schemes
Posted on 20 Jun, 2016 5:40 pm
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 |
|
KisanVikasPatra |
7.8 (will mature in 110 months) |
7.8 (will mature in 110 months) |
Annual |
|
SukanyaSamriddhi Account Scheme |
8.6 |
8.6 |
Annual |
Courtesy Press Information bureau of India