Revised Interest Rates for Small Savings Schemes – Oct to Dec 2018
Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19
On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, the Rates of Interest on various Small Savings Schemes for the Third Quarter of the Current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, 2018 have been announced. The Rates of Interest on the basis of the interest compounding/payment built-in in the Schemes, shall be as under:
Instrument
|
Rate of interest
w.r.t. 01.07.2018 to 30.09.2018
|
Rate of interest
w.r.t. 01.10.2018 to 31.12.2018
|
Compounding frequency*
|
Savings Deposit
|
4.0
|
4.0
|
Annually
|
1 Year Time Deposit
|
6.6
|
6.9
|
Quarterly
|
2 Year Time Deposit
|
6.7
|
7.0
|
Quarterly
|
3 Year Time Deposit
|
6.9
|
7.2
|
Quarterly
|
5 Year Time Deposit
|
7.4
|
7.8
|
Quarterly
|
5 Year Recurring
Deposit
|
6.9
|
7.3
|
Quarterly
|
5 Year Senior Citizen
Savings Scheme
|
8.3
|
8.7
|
Quarterly and paid
|
5 Year Monthly Income
Account
|
7.3
|
7.7
|
Monthly and paid
|
5 Year National
Savings Certificate
|
7.6
|
8.0
|
Annually
|
Public Provident Fund
Scheme
|
7.6
|
8.0
|
Annually
|
KisanVikasPatra
|
7.3 (will mature in
118 months)
|
7.7 (will mature in
112 months)
|
Annually
|
SukanyaSamriddhi
Account Scheme
|
8.1
|
8.5
|
Annually
|
Revised Interest Rates for Small Savings Schemes – Oct to Dec 2018
Reviewed by CENTRAL GOVT WORKFORCE(EMPLOYEES) NEWS
on
September 21, 2018
Rating:
Reviewed by CENTRAL GOVT WORKFORCE(EMPLOYEES) NEWS
on
September 21, 2018
Rating:
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