Interest Rates for Small Savings Schemes Unchanged for the Fourth Quarter 2019-20 (Jan-Mar)
- The government has kept the interest rates on small savings schemes unchanged for the fourth quarter of FY 2019-20 (January-March).
- The interest rates on small savings schemes are reviewed every quarter by the government.
- The formula to arrive at the interest rates of the small savings scheme was given by the Shyamala Gopinath Committee.
- Accordingly, the Rates of Interest on various Small Savings Schemes for the Fourth Quarter of the Current Financial Year 2019-20 is as given below:
|
Instrument
|
Interest Rate (January 2020-March 2020)
|
Compounding frequency*
|
|
Savings Deposit
|
4.0
|
Annually
|
|
1 Year Time Deposit
|
6.9
|
Quarterly
|
|
2 Year Time Deposit
|
6.9
|
Quarterly
|
|
3 Year Time Deposit
|
6.9
|
Quarterly
|
|
5 Year Time Deposit
|
7.7
|
Quarterly
|
|
5 Year Recurring Deposit
|
7.2
|
Quarterly
|
|
5 Year Senior Citizen Savings Scheme
|
8.6
|
Quarterly and paid
|
|
5 Year Monthly Income Account
|
7.6
|
Monthly and paid
|
|
5 Year National Savings Certificate
|
7.9
|
Annually
|
|
Public Provident Fund Scheme
|
7.9
|
Annually
|
|
Kisan Vikas Patra
|
7.8 (will mature in 113 months)
|
Annually
|
|
Sukanya Samriddhi Account Scheme
|
8.4
|
Annually
|