Small Savings Schemes: No change in Interest Rates for second quarter starting from 01.07.2020 to 30.09.2020.

Small Savings Schemes: No change in Interest Rates for second quarter starting from 01.07.2020 to 30.09.2020.

Small Savings Schemes: No change in Interest Rates for second quarter starting from 01.07.2020 to 30.09.2020.

small-saving-scheme-no-change-in-interest-rates

SB Order 24/2020

e.F.No 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi-110001
Dated: 01.07.2020

To,

All Head of Circles/Regions

Subject : Revision of interest rates for Small Savings Schemes w.e.f. 01.07.2020

Sir/Madam,

The undersigned is directed to say that vide memorandum No. 01/04/2019-NS dated 30.06.2020 (copy enclosed), Govt. of India. Ministry of Finance, Department of Economic Affairs (Budget Division) have informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the second quarter of financial year 2020-21 (starting from 1st July, 2020 and ending on 30th September, 2020) shall remain unchanged from those notified for the first quarter of Financial Year 2020-21 (01st April, 2020 to 30th June,2020). The details are indicated below for ready reference.

SI. No. InstrumentsRate of interest w.e.f.01.04.2020 to 30.06.2020 (Rate of interest) w.e.f. 01.07.2020 to 30.09.2020 (Unchanged) Compounding Frequency*
01Post Office Savings Account4.04.0Annually
021 Year Time Deposit5.55.5Quarterly
032 Year Time Deposit5.55.5Quarterly
043 Year Time Deposit5.55.5Quarterly
055 Year Time Deposit6.76.7Quarterly
065 Year Recurring Deposit Scheme5.85.8Quarterly
07Senior Citizen Savings Scheme7.47.4Quarterly and Paid
08Monthly Income Account6.66.6Monthly and paid
09National Savings Certificate (VIII Issue)6.86.8Annually
10Public Provident Fund Scheme7.17.1Annually
11Kisan Vikas Patra6.9 (will mature in 124 months)6.9 (will mature in 124 months)Annually
12Sukanya Samriddhi Account Scheme7.67.6Annually
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3. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area.

4. This issues with the approval of Competent Authority.

Yours Faithfully,

(Deventira Sharma)
Assistant Director (SB)

Copy to:-

  1. Sr. PPS to Secretary (Posts)

  2. PS to Director General Postal Services.

  3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/ Member (O)/ Member (P)/ Member (Planning & HRD)/ Member (PLI)/ Member (TechV/AS & FA

  4. Addl. Director General, APS, New Delhi

  5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate

  6. Sr. Deputy Director General (Vigilance) & CVO) / Sr. Deputy Director General (PAF)

  7. Director, RAKNPA / GM, CEPT / Directors of all PTCs

  8. Director General P & T (Audit), Civil Lines, New Delhi

  9. Secretary, Postal Services Board/ All Deputy Directors General

  10. All General Managers (Finance) / Directors Postal Accounts / DDAP

  11. Chief Engineer (Civil), Postal Directorate

  12. All Sections of Postal Directorate

  13. All recognized Federations / Unions/ Associations

  14. GM, CEPT for uploading the order on the India Post website.

  15. MOF(DEA), NS-II, North Block, New Delhi.

  16. Joint Director & HOD, ICCW Building, 4 Deendayal Upadhyay Marg, New Delhi-110002

  17. Guard File

  18. Spare copies.

    http://utilities.cept.gov.in/dop/pdfbind.ashx?id=4617

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