Revision of Interest Rates for Small Savings Schemes for Q1 of 2021-22

Last updated: 01 April 2021

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The Government of India has announced revised interest rates for various Small Savings Schemes for the first quarter of the financial year 2021-22. These new rates are effective from 1st April 2021 to 30th June 2021. Several schemes, including Savings Deposit, Time Deposits, Public Provident Fund, and Kisan Vikas Patra, have seen adjustments in their interest rates for this period.

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 1^stApril, 2021 and ending on 30^th 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.