Revision of interest rates for Small Savings Schemes for the period from Jan-17 to Mar-17

Revision of interest rates for Small Savings Schemes for the period from Jan-17 to Mar-17



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 Deposit4.04.0Annually
1 Year Time Deposit7.07.0Quarterly
2 Year Time Deposit7.17.1Quarterly
3 Year Time Deposit7.37.3Quarterly
5 Year Time Deposit7.87.8Quarterly
5 Year Recurring Deposit7.37.3Quarterly
5 Year Senior Citizens Savings Scheme8.58.5Quarterly and paid
5 Year Monthly Income Account Scheme7.77.7Monthly and Paid
5 Year National Savings Certificate8.08.0Annually
Public Provident Fund Scheme8.08.0Annually
Kisan Vikas Patra7.7 (will mature in 112 months)7.7 (will mature in 112 months)Annually
Sukanya Samriddhi Account Scheme8.58.5Annually
* No Change
3. This has the approval of Finance Minister.
(Vyasan R)
Deputy Secretary to the Government of India
Tele: 01123092326








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