Wednesday, April 13, 2016

Revision of interest rates for Small Savings Schemes



The Government of India, advised the revised rate of interest on various small savings schemes for the first quarter of the financial year 2016-17.

The contents of this circular may be brought to the notice of the branches of your bank operating Government small saving schemes for necessary action. These should also be displayed on the notice boards of your branches for information of the subscribers to these Schemes.
Instrument
Rate of Interest w.e.f. 1/4/15 to 31/3/16
Rate of Interest w.e.f. 1/4/16 to 30/6/16
Savings Deposit
4.0
4.0
1 Year Time Deposit
8.4
7.1
2 Year Time Deposit
8.4
7.2
3 Year Time Deposit
8.4
7.4
5 Year Time Deposit
8.5
7.9
5 Year Recurring Deposit
8.4
7.4
5 Year Senior citizens Savings Scheme
9.3
8.6
5 Year Monthly Income Account Scheme
8.4
7.8
5 Year National Savings Certificate
8.5
8.1
Public Provident Fund Scheme
8.7
8.1
Kisan Vikas Patra (110 months)
8.7
7.8
Sukanya Samriddhi Account Scheme
9.2
8.6

Based on RBI notification dated 7/4/16. For any further details, please refer www.rbi.org.in ………. Poppy Sharma