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Orders Withdrawn | Revision of interest rates for Small Savings Schemes - | For the First Quarter of the Financial Year 2021 | for the period April to June- 2021

 "Interest rates od small savings schemes of GOI shall continue to be at the rates 

which existed in the last quarter of 2020-2021, i.e rates that prevailed as of 

March 2021. Orders issued by oversight shall be withdrawn"- Finance Minister

F.No.1/4/2019-NS

Government of India

Ministry of Finance

Department of Economic Affairs

(Budget Division)

North Block, New Delhi Dated: 31.03.2021

OFFICE MEMORANDUM

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

In exercise of the powers conferred by Rule 9(1) of the Government Savings Promotion General Rule, 2018, the rates of interest on various Small Savings Schemes for the first quarter of financial year 2021-22 starting from I. April, 2021 and ending on 30. June, 2021 have been revised as indicated below:

Instruments

Rates of interest from 01.01.2021 to 31.03.2021

Rates of interest from 01.04.2021 to 30.06.2021

Compounding
frequency*

 

Savings Deposit

 

4.0

 

3.5

 

Annually

 

1 Year Time Deposit

 

5.5

 

4.4

 

Quarterly

 

2 Year Time Deposit

 

 

5.5

 

5.0

 

 Quarterly

 

3 Year Time Deposit

 

5.5

 

5.1

 

Quarterly

5 Year Time Deposit

                                                                      6.7

                                                                     5.8

Quarterly

 

5 Year Recurring Deposit

 

5.8

 

5.3

 

Quarterly

 

Senior Citizen Savings Schemes

 

7.4

 

6.5

 

Quarterly and paid

Monthly Income Account

                                                                                                      6.6

                                                                                                   5.7

 Monthly and paid

 National Savings Certificate 

 

6.8

5.9

Annually

Public Provident Fund Scheme

7.1

6.4

Annually

Kisan Vikas Patra

6.9 (will
mature in 124
months)

6.2 (will mature
in 138 months)

Annually

Sukanya Samriddhi Account Scheme

                                                                                                  7.6

                                                                     6.9

Annually

•No change.

2. This has the approval of competent authority   

(Rajesh Panwar) Deputy Director (NS) Tele - 01123093170

Copy to :

I. Finance Secretary, Ministry of Finance. Department of Financial Services, leevan Deep Building, New Delhi.

  1. 2.  Secretary. Department of Expenditure, North Block. New Delhi.
  2. 3.  Secretary, Department of Economic Affairs & Revenue, North Block, New Delhi.
  3. 4.  Secretary, Department of Posts, Dak Bhawan, New Delhi
  4. 5.  Chief General Manager, Department of Govt. & Bank Account, Reserve Bank of India. Central Office, Mumbai
  5. 6.  Chief Secretaries of State/UT Governments.
  6. 7.  Joint Director, National Savings Institute, New Delhi.



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