Interest rates for Small Savings Schemes w.e.f. 01.07.2020

SB Order 24/2020 : Interest rates for Small Savings Schemes w.e.f. 01.07.2020

SB Order 24/2020

e.F.No 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi-110001
Dated: 01.07.2020

To,
All Head of Circles/Regions

Subject : Revision of interest rates for Small Savings Schemes w.e.f. 01.07.2020

Sir/Madam,

The undersigned is directed to say that vide memorandum No. 01/04/2019-NS dated 30.06.2020 (copy enclosed), Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) have informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the second quarter of financial year 2020-21 (starting from 1st July ,2020 and ending on 30th September, 2020) shall remain unchanged from those notified for the first quarter of Financial Year 2020-21 (01st April, 2020 to 30th June,2020). The details are indicated below for ready reference.

SI. No.	Instruments	Rate of interest w.e.f.01.04.2020 to 30.06.2020	Rate of interest w.e.f 01.07.2020 to 30.09.2020 (Unchanged)	Compounding Frequency*
01.	Post Office Savings Account	4.0	4.0	Annually
02.	1 Year Time Deposit	5.5	5.5	Quarterly
03.	2 Year Time Deposit	5.5	5.5	Quarterly
04.	3 Year Time Deposit	5.5	5.5	Quarterly
05.	5 Year Time Deposit	6.7	6.7	Quarterly
06.	5 Year Recurring Deposit Scheme	5.8	5.8	Quarterly
07.	Senior Citizen Savings Scheme	7.4	7.4	Quarterly and Paid
08	Monthly Income Account	6.6	6.6	Monthly and paid
09	National Savings Certificate (VIII Issue)	6.8	6.8	Annually
10.	Public Provident Fund Scheme	7.1	7.1	Annually
11	Kisan Vikas Patra	6.9 (will mature in 124 months)	6.9 (will mature in 124 months)	Annually
12	Sukanya Samriddhi Account Scheme	7.6	7.6	Annually

3. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area.

4. This issues with the approval of Competent Authority.

Yours Faithfully,

(Deventira Sharma)
Assistant Director (SB)

Signed Copy