SB Order No. 33/2020: Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.10.2020

SB Order No. 33/2020: Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.10.2020

SB Order No. 33/2020: Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.10.2020

SB Order No. 33/2020

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

Dak Bhawan, New Delhi-110001
Dated: 01.10.2020

To,

All Head of Circles/Regions

Subject : Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.10.2020

Sir/Madam,

The undersigned is directed to say that vide memorandum No. 01/04/2019-NS dated 30.09.2020 (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 third quarter of financial year 2020-21 (starting from 1st October, 2020 and ending on 31st December, 2020) shall remain unchanged from those notified for the second quarter of Financial Year 2020-21 (01st July, 2020 to 30th September, 2020). The details are indicated below for ready reference.

Sl. No.InstrumentsRate of interest w.e.f. 01.07.2020 to 30.09.2020Rate of interest w.e.f 01.10.2020 to 31.12.2020 (Unchanged)Compounding Frequency*
01.Post Office Savings Account4.04.0Annually
02.1 Year Time Deposit5.55.5Quarterly
03.2 Year Time Deposit5.55.5Quarterly
04.3 Year Time Deposit5.55.5Quarterly
05.5 Year Time Deposit6.76.7Quarterly
06.5 Year Recurring Deposit Scheme5.85.8Quarterly
07.Senior Citizen Savings Scheme7.47.4Quarterly and Paid
08.Monthly Income Account6.66.6Monthly and paid
09.National Savings Certificate (VIIIth Issue)6.86.8Annually
10.Public Provident Fund Scheme7.17.1Annually
11.Kisan Vikas Patra6.9 (will mature in 124 months)6.9 (will mature in 124 months)Annually
12.Sukanya Samriddhi Account Scheme7.67.6Annually
Read also |  Compassionate appointment - New Relative Merit Points System (RMPS) for consideration of cases for Compassionate appointments

2. 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.

3. This issues with the approval of Competent Authority.

Yours Faithfully,

(Devendra 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 (Tech)/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.

F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

Read also |  Early Implementation of Cadre Restructuring to RMS & MMS - FNPO request reg

North Block, New Delhi
Dated: 30.09.2020

Office Memorandum

Subject: Revision of interest rates for Small Savings Schemes — reg.

The rates of interest on various Small Savings Schemes for the third quarter of financial year 2020-21 starting from 1st October, 2020 and ending on 31st December, 2020 shall remain unchanged from those notified for the second quarter (1st July, 2020 to 30th September, 2020) of financial year 2020-21.

2. This issues with the approval of competent authority.

(Hanumaiah K.)
Deputy Secretary(Budget)
Tele — 01123095042

To

  1. The Finance Secretary, Ministry of Finance Department of Revnue, North Block, New Delhi.
  2. The Secretary, Department of Financial Services, Jeevan Deep Building, New Delhi.
  3. The Secretary, Department of Expenditure, North Block, New Delhi.
  4. The Secretary, Department of Economic Affairs, North Block, New Delhi.
  5. The Secretary, Department of Posts, Dak Bhawan, Ashoka Road, New Delhi.
  6. Chief General Manager,  Department of Govt. & Bank  Accounts, Reserve Bank of India, 4th Floor, Near Maratha Mandir, Byculla, Opposite Mumbai Central Railway Station, Mumbai-400008.
  7. Reserve Bank of India, Central Account Section, Additional Office Section, East High Court Road, Nagpur —440 001.
  8. Chief Secretaries of  Government of Union  Territories/States.
  9. The Joint Director & HoD, National Savings Institute, 4, Deen Dayal Upadhayaya Marg, New Delhi-110002.
Read also |  DoP: Special Foundation Course for backlog officers

sb-order-no-33-2020-revision-of-interest-rates-for-national-small-savings-schemes-w-e-f-01-10-2020

Source: DoP

COMMENTS