Revised Interest Rates for Small Savings Schemes – Oct to Dec 2018

Revised Interest Rates for Small Savings Schemes – Oct to Dec 2018

Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19

On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, the Rates of Interest on various Small Savings Schemes for the Third Quarter of the Current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, 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:

Check also: General Provident Fund Interest Calculator for CG Employees

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

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Clarification on Interest Rates on Small Savings Schemes

   Ministry of Finance has clarified that although the rate of interest on small savings schemes will be aligned every year with rates of Government securities of similar maturity, with suitable spread, the rates are fixed and not floating so far as individual investments except PPF are concerned. This is in response to news items appearing in certain sections of the Press that the interest rates on small saving schemes, revised by the Government w.e.f. 1.12.2011, are floating rates, which will undergo change according to fluctuations in the yield on the Government securities.

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Notifications on changes in Small Savings Schemes

New Delhi, the 25th November, 2011

MINISTRY OF FINANCE

(Department of Economic Affairs)

NOTIFICATION

   No. F. 1/12/2011-NS-II — The Central Government hereby notifies that the authorised Standardised Agency System (SAS) and Mahila Pradhan Kshetrlya Bachat Yojana (MPKBY) agents for canvassing/securing investments in the small savings schemes as per the terms of agreement executed by them under the Standardised Agency System (SAS) and Mahila Pradhan Kshetrlya Bachat Yojana (MPKBY) will be paid commission at the rate indicated below:-

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