Government announces the Revision of interest rates for Small Savings

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

CA Deepak Gupta

Sep 20, 2018

Last update on Sep 20, 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 1^stOctober, 2018, and ending on 31^stDecember, 2018 have been announced. The Rates of Intereston the basis of the interest compounding/payment built-in in the Schemes, shall be as under:

Government announces the Revision of interest rates for Small SavingsSchemes

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
Kisan Vikas Patra	7.3 (will mature in 118 months)	7.7 (will mature in 112 months)	Annually
Sukanya Samriddhi Account Scheme	8.1	8.5	Annually

* No Change This announcement has been made byMinistry of Finance via press release dated 20th September 2018

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