Interest rates of Small Savings Schemes for 3rd quarter of 2018-19
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; Click here to view/download the PDF
[https://dea.gov.in/sites/default/files/Intt.%20rates%20for%203rd%20Quarter%20of%202018-19.pdf]
[https://dea.gov.in/sites/default/files/Intt.%20rates%20for%203rd%20Quarter%20of%202018-19.pdf]
COMMENTS