On the basis of the decision of the Government, interest rates for
small savings schemes are to be notified on quarterly basis. Accordingly, the
rates of interest on various small savings schemes for the second quarter of
financial year 2016-17, on the basis of the interest compounding/payment
built-in in the schemes, shall be as under:
|
Instrument
|
Rate of
interest w.e.f. 01.04.2016 to 30.6.2016
|
Rate of
interest w.e.f. 01.07.2016 to 30.9.2016
|
Compounding
frequency
|
|
Savings
Deposit
|
4.0
|
4.0
|
Annual
|
|
1 Year Time
Deposit
|
7.1
|
7.1
|
Quarterly
|
|
2 Year Time
Deposit
|
7.2
|
7.2
|
Quarterly
|
|
3 Year Time
Deposit
|
7.4
|
7.4
|
Quarterly
|
|
5 Year Time
Deposit
|
7.9
|
7.9
|
Quarterly
|
|
5 Year
Recurring Deposit
|
7.4
|
7.4
|
Quarterly
|
|
5 Year Senior
Citizens Savings Scheme
|
8.6
|
8.6
|
Quarterly and
paid
|
|
5 year Monthly
Income Account Scheme
|
7.8
|
7.8
|
Monthly and
paid
|
|
5 Year
National Savings Certificate
|
8.1
|
8.1
|
Annual
|
|
Public
Provident Fund Scheme
|
8.1
|
8.1
|
Annual
|
|
KisanVikasPatra
|
7.8 (will
mature in 110 months)
|
7.8 (will
mature in 110 months)
|
Annual
|
|
SukanyaSamriddhi
Account Scheme
|
8.6
|
8.6
|
Annual
|
*****
AR/KA