Tuesday, January 8, 2019

Savings Bank interest rate for the period from 1-1-2019 to 31-3-2019


F.No.01/0412016-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 31.12.2018

Subject: Revision of interest rates for Small Savings Schemes.

The undersigned is directed to refer to this Department’s OM of even number dated 16th February, 2016, vide which the various decisions taken by the Government regarding interest fixation for small savings schemes were communicated to all concerned.
2. On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the fourth quarter of financial year 2018-19 starting 1st January, 2019, and ending on 31st March, 2019, on the basis of the interest compounding / payment built-in in the schemes, shall be as under: 


InstructionsRate of interest w.e.f. 01.10.2018 to 31.12.2018Rate of interest w.e.f. 01.01.2019 to 31.03.2019Compounding Frequency*
Saving Deposit4.04.0Annually
1 Year Time Deposit6.97.0Quarterly
2 Year Time Deposit7.0Quarterly
3 Year Time Deposit7.2Quarterly
5 Year Time Deposit7.87.8Quarterly
5 Year Recurring Deposit7.37.3Quarterly
5 Year Senior Citizen Savings Scheme8.78.7Quarterly and Paid
5 Year Monthly Income Account7.77.7Monthly and paid
5 Year National Savings Certificate8.08.0Annually
Publilc Provident Fund Scheme8.08.0Annually
Kisan Vikas Patra7.7 (will mature in 112 months)7.7 (will mature in 112 months)Annually
Sukanya Samriddhi Account Scheme8.58.5Annually
*No Change

3. This has the approval of Finance Minister.
(Akhilesh Kumar Mishra)
Director
Tele: 01123095024

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