"Great things never come from comfort zone"           "Wealthy people invest first and spend what’s left and broke people spend first and invest what’s left"           "Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future"           "The secret to getting ahead is getting started.................Start using your Savings to Earn Money"           "The best gift, and investment, you can give your child is your time"           "Investing in your child’s education is never a wasted effort"           "Making money and handling money are both different things"

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

 

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

238 views
0
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






Comments


Leave a Reply

Name *
Comments *
   

© 2020 - EnSkyAR Financial Services