Government interest rates Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS https://centralgovernmentnews.com/tag/government-interest-rates/ All about Central Government Employees News. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more. Fri, 21 Sep 2018 10:17:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://centralgovernmentnews.com/wp-content/uploads/2019/02/cropped-central-government-employees-news-32x32.png Government interest rates Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS https://centralgovernmentnews.com/tag/government-interest-rates/ 32 32 Revision of interest rates for small savings schemes https://centralgovernmentnews.com/revision-of-interest-rates-for-small-savings-schemes-4/ https://centralgovernmentnews.com/revision-of-interest-rates-for-small-savings-schemes-4/#respond Fri, 21 Sep 2018 10:17:36 +0000 http://centralgovernmentnews.com/?p=22413 Revision of interest rates for small savings schemes F.No.01/04/2016-NS Government of India Ministry Of Finance Department of Economic Affairs (Budget Division) North Block, New Delhi Dated: 19.09.2018 Subject: Revision of interest rates for small savings schemes. The undersigned is directed to refer to this Department’s OM of even number dated 16th February, 2016 vide which […]

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F.No.01/04/2016-NS
Government of India
Ministry Of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated: 19.09.2018

Subject: Revision of interest rates for small savings schemes.

The undersigned is directed to refer to this Department’s 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.

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 third quarter of financial year 2018-19 starting 1st October, 2018 and ending on 31st December, 2018, on the basis of the interest compounding/payment built-in the schemes, shall be as under:-

Instrument Rate of interest w.r.f 01.07.2018 to 30.09.2018 Rate of interest w.r.t 01.10.2018 to 31.12.2018 Compounding
frequency*
Savings Deposit 4.0 4.0 Annually
1 Year Time Deposit 6.6 6.9 Quarterly
2 Year Time Deposit 6.7 7.0 Quarterly
3 Year Time Deposit 6.9 7.2 Quarterly
5 Year Time Deposit 7.4 7.8 Quarterly
5 Year Recurring Deposit 6.9 7.3 Quarterly
5 Year Senior Citizen Savings Scheme 8.3 8.7 Quarterly and paid
5 Year Monthly Income Account 7.3 7.7 Monthly and Paid
5 Year National Savings certificate 7.6 8.0 Annually
Public provident Fund Scheme 7.6 8.0 Annually
Kisan Vikaspatra 7.3 (will mature in 118 months) 7.7 (will mature in 112 months) Annually
Sukanya Samriddhi Account Scheme 8.1 8.5 Annually

*No change
3. This has the approval of Finance Minister.

(Padam singh)
Sr.Regional Director(NS)
Tele: 01123095155

Source: Dea.gov.in

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]]> https://centralgovernmentnews.com/revision-of-interest-rates-for-small-savings-schemes-4/feed/ 0 Revision of interest rates for Small Savings Schemes https://centralgovernmentnews.com/revision-of-interest-rates-for-small-savings-schemes/ https://centralgovernmentnews.com/revision-of-interest-rates-for-small-savings-schemes/#respond Tue, 03 Jan 2017 12:24:06 +0000 http://centralgovernmentnews.com/?p=16466 Revision of interest rates for Small Savings Schemes 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 Department’s OM of even number dated 16th […]

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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 Department’s 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.

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 4.0 4.0 Annually
1 Year Time Deposit 7.0 7.0 Quarterly
2 Year Time Deposit 7.1 7.1 Quarterly
3 Year Time Deposit 7.3 7.3 Quarterly
5 Year Time Deposit 7.8 7.8 Quarterly
5 Year Recurring Deposit 7.3 7.3 Quarterly
5 Year Senior Citizens Savings Scheme 8.5 8.5 Quarterly and paid
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

3. This has the approval of Finance Minister.

(Vyasan R)
Deputy Secretary to the Government of India
Tele: 01123092326

Source: Finmin.nic.in

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