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Small Savings Schemes - Govt notifies interest rates effective from Oct 1

 

By TIOL News Service

NEW DELHI, SEPT 21, 2018: GOVT has revised the interest rates for Small Savings Schemes. The Rates for the Third Quarter of the Current Financial Year 2018-19 starting October 1, 2018, and ending on December 31, 2018 have been announced. The Rates of Interest on the basis of the interest compounding/payment built-in in the Schemes, shall be as under:

 

 

Instrument

Rate of interest w.r.t. 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

KisanVikasPatra

7.3 (will mature in 118 months)

7.7 (will mature in 112 months)

Annually

SukanyaSamriddhi Account Scheme

8.1

8.5

Annually

* No Change


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