F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 31.03.2020
OFFICE MEMORANDUM
Subject : Revision of interest rates for Small Savings Schemes – reg.
In exercise of the powers conferred by Rule 9(1) of the Government Saving Promotion General Rules. 2018, the rates of interest on various Small Savings Schemes for the first quarter of financial year 2020-21 starting from 1st April, 2020 and ending on 30th June. 2020 have been revised as indicated below:
| Instruments | Rate of interest from 01.01.2020 to 31.03.2020 | Rate of interest from 01.04.2020 to 30.06.2020 | Compounding frequency* |
|---|---|---|---|
| Savings Deposit | 4.0 | 4.0 | Annually |
| 1 Year Time Deposit | 6.9 | 5.5 | Quarterly |
| 2 Year Time Deposit | 6.9 | 5.5 | Quarterly |
| 3 Year Time Deposit | 6.9 | 5.5 | Quarterly |
| 5 Year Time Deposit | 7.7 | 6.7 | Quarterly |
| 5 Year Recurring Deposit | 7.2 | 5.8 | Quarterly |
| Senior Citizen Savings Scheme | 8.6 | 7.4 | Quarterly and paid |
| Monthly Income Account | 7.6 | 6.6 | Monthly and paid |
| National Savings Certificate | 7.9 | 6.8 | Annually |
| Public Provident Fund Scheme | 7.9 | 6.8 | Annually |
| Kisan Vikas Patra | 7.6 (will mature in 113 months) | 6.9 (will mature in 124 months) | Annually |
| Sukanya Samriddhi Account Scheme | 8.4 | 7.6 | Annually |
2. This has the approval of Finance Minister.
(Rajesh Panwar)
Dy. Director (Budget)
