GOVERNMENT ANNOUNCES INTEREST RATES FOR VARIOUS SMALL SAVINGS SCHEMES; RATES TO COME INTO FORCE WITH EFFECT FROM 01-04-2015
It was
decided by the Government of India that interest rates on Small savings
Schemes will be linked to yields on government securities of comparable
maturity. In pursuance of that decision, the Government has decided to
revise the rates applicable on various small savings schemes as given in
the table below.
Scheme
|
Rate of interest
w.e.f.01.04.2014
|
Rate of Interest
w.e.f. 01.04.2015
|
(1)
|
(2)
|
(3)
|
Savings Deposit
|
4.0
|
4.0
|
1 Year Time Deposit
|
8.4
|
8.4
|
2 Year Time Deposit
|
8.4
|
8.4
|
3 Year Time Deposit
|
8.4
|
8.4
|
5 Year Time Deposit
|
8.5
|
8.5
|
5 Year Recurring Deposit
|
8.4
|
8.4
|
5 Year SCSS
|
9.2
|
9.3
|
5 Year MIS
|
8.4
|
8.4
|
5 Year NSC
|
8.5
|
8.5
|
10 Year NSC
|
8.8
|
8.8
|
PPF
|
8.7
|
8.7
|
Kisan Vikas Patra
|
8.7
|
8.7
|
Sukanya Samriddhi Account Scheme
|
9.1
|
9.2
|
The above rates will be effective from tomorrow i.e. 1.4.2015.
Thus the rates on many of the small savings scheme have undergone an upwards revision vis-à-vis 2014-15.