SB Order: Revision of interest rates for Small Savings Schemes
SB Order No. 14/2018
F.No 113-03/2017-SB
Govt. of India
Ministry of Communication
Department of Posts
(F.S. Division)
Dak Bhawan, New Delhi-110001
Dated: 31.12.2018
To,
All Head of Circles/Regions
Addl. Director General, APS, New Delhi
Subject :- Revision of interest rates for Small Savings Schemes.
Sir/Madam,
The undersigned is directed to say that vide memorandum No. 01104/2016-NS dated 31.12 2018 (copy enclosed), Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has revised interest rates of small savings schemes for the fourth quarter of the financial year 2018-19 starting 1st January ,2019 and ending on 31st March, 2019 on the basis of interest compounding/payment built-in in the schemes, as under:-
| SI. No. | instruments | Rate of interest | Rate of interest | Compounding Frequency* |
|---|---|---|---|---|
| w.e.f.01.10.2018 to 31.12.2018 | w.e.f 01.01.2019 to 31.03.2019 | |||
| 1 | Savings Deposit | 4 | 4 | Annually |
| 2 | 1 Year Time Deposit | 6.9 | 7 | Quarterly |
| 3 | 2 Year Time Deposit | 7 | 7 | Quarterly |
| 4 | 3 Year Time Deposit | 7.2 | 7 | Quarterly |
| 5 | 5 Year Time Deposit | 7.8 | 7.8 | Quarterly |
| 6 | 5YearRecurring Deposit | 7.3 | 7.3 | Quarterly |
| 7 | 5 Year Senior Citizen Account Scheme |
8.7 | 8.7 | Quarterly and Paid |
| 8 | 5 Year Monthly Income Account |
7.7 | 7.7 | Monthly and paid |
| 9 | 5 Year National Savings Certificate |
8 | 8 | Annually |
| 10 | Public Provident Fund Scheme |
8 | 8 | Annually |
| 11 | Kisan Vikas Patra | 7.7 (will mature in 112 months) |
7.7 (will mature in 112 months) | Annually |
| 12 | Sukanya Samriddhi Account Scheme | 8.5 | 8.5 | Annually |
3. It is requested to circulate these changes to all concered for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in Public area. The necessary calculation tables will be supplied in due course.
4. This issue with the approval of Competent Authority.
Yours Faithfully,
(Devendra Sharma)
Assistant Director (SB-II)
Leave a Reply