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F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 31.03.2021
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
In exercise of the powers conferred by Rule 9(1) of the Government Savings Promotion General Rules, 2018, the rates of interest on various Small Savings Schemes for the first quarter of financial year 2021-22 starting from 1st April, 2021 and ending on 30th June, 2021 have been revised as indicated below:
| Instruments | Rates of interest from 01.01.2021 to 31.03.2021 |
Rates of interest from 01.04.2021 to 30.06.2021 |
Compounding frequency* |
| Savings Deposit | 4.0 | 3.5 | Annually |
| 1 Year Time Deposit | 5.5 | 4.4 | Quarterly |
| 2 Year Time Deposit | 5.5 | 5.0 | Quarterly |
| 3 Year Time Deposit | 5.5 | 5.1 | Quarterly |
| 5 Year Time Deposit | 6.7 | 5.8 | Quarterly |
| 5 Year Recurring Deposit | 5.8 | 5.3 | Quarterly |
| Senior Citizen Savings Schemes | 7.4 | 6.5 | Quarterly and paid |
| Monthly Income Account | 6.6 | 5.7 | Monthly and paid |
| National Savings Certificate | 6.8 | 5.9 | Annually |
| Public Provident Fund Scheme | 7.1 | 6.4 | Annually |
| Kisan Vikas Patra | 6.9 (will mature in 124 months) |
6.2 (will mature in 138 months) | Annually |
| Sukanya Samriddhi Account Scheme | 7.6 | 6.9 | Annually |
*No change.
2. This has the approval of competent authority.
Rajesh Panwar
Deputy Director (NS)
Tele – 01123093170
FAQ :
The revised interest rates are effective from 1st April 2021 and will be applicable until 30th June 2021.
Interest rates have been revised for Savings Deposit, 1 Year Time Deposit, 2 Year Time Deposit, 3 Year Time Deposit, 5 Year Time Deposit, 5 Year Recurring Deposit, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate, Public Provident Fund Scheme, and Kisan Vikas Patra.
The interest rate for the Savings Deposit scheme has been revised to 3.5% per annum.
The interest rate for the Public Provident Fund Scheme has been revised to 6.4% per annum.
Yes, the maturity period for Kisan Vikas Patra has been extended from 124 months to 138 months, with a revised interest rate.
The interest rate for the Senior Citizen Savings Scheme has been revised to 6.5% per annum.
CAclubindia
Source : https://dea.gov.in/sites/default/files/RoI%20Quarter%201_0.pdf