Interest rates on Small Savings Schemes are
Administered Interest Rates, and are benchmarked to the average annual yield on
Government Securities of comparable maturity in the secondary market with a
suitable spread over the benchmark yield, depending upon the maturity and
liquidity of the instruments. The interest rates of Small Savings Schemes have
been benchmarked to G-Sec. yields of equivalent maturity with suitable spread
and are reset every 1st April.
Interest rates applicable on each Small
Savings Scheme w.e.f. 1.4.2014 are as below:
|
Instrument
|
Rate of Interest (%) w.e.f 1.4.2014
|
|
Savings Deposit
|
4.0
|
|
1 Year Time Deposit
|
8.4
|
|
2 Year Time Deposit
|
8.4
|
|
3 Year Time Deposit
|
8.4
|
|
5 Year Time Deposit
|
8.5
|
|
5 Year Recurring Deposit
|
8.4
|
|
5 Year SCSS
|
9.2
|
|
5 Year MIS
|
8.4
|
|
5 Year NSC
|
8.5
|
|
10 Year NSC
|
8.8
|
|
PPF
|
8.7
|
This was stated by Shri Jayant Sinha, Minister of State in Ministry
of Finance in written reply to a question in the Lok Sabha today.
* * * * *
DSM/KA/rs