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Revised-Interest-Rates-for-Small-Savings-Schemes-1st-quarter-2020-21

 

Revised Interest Rates for Small Savings Schemes 1st quarter 2020-21

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Introduction-

The rates of interest on various small saving schemes for the 1st quarter of financial year 2020-21 i.e. 01.04.2020 to 30.06.2020, has been revised.

Interest rates for small saving schemes are notified on a quarterly basis.

The following schemes are covered under small saving schemes, the comparable chart of interest rate for the Q4 of financial year 2019-20 & Q1 of financial year 2020-21 are as under-



Detailed chart is as under-

Instruments

Interest Rate (Q4 of 2019-20)

Interest Rate (Q1 of 2020-21

Compounding frequency

Deposit (SD)

4.0

4.0

Annually

1 Year Time Deposit (TD)

6.9

5.5

Quarterly

2 Year Time Deposit (TD)

6.9

5.5

Quarterly

3 Year Time Deposit (TD)

6.9

5.5

Quarterly

5 Year Time Deposit (TD)

7.7

6.7

Quarterly

5 Year Recurring Deposit (RD)

7.2

5.8

Quarterly

5 Year Senior Citizens Savings Scheme (SCSS)

8.6

7.4

Quarterly and Paid

5 year Monthly Income Scheme (MIS)

7.6

6.6

Monthly and Paid

5 Year National Savings Certificate (NSC)

7.9

6.8

Annually

Public Provident Fund (PPF) Scheme

7.9

7.1

Annually

Kisan Vikas Patra (KVP)

7.6*

6.9**

Annually

Sukanya Samriddhi Account Scheme (SSAS)

8.4

7.6

Annually

*will mature in 113 months, ** will mature in 124 months






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