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