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Blog maintained by : P. Radhamohan Nair, Retired Private Secretary to Post Master General, Northern Region, Calicut, Kerala Circle

Monday, July 03, 2017

Revision of Interest Rates for Small Savings from 01.07.2017 to 30.09.2017 - Finance Ministry Order

Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 30.06.2017
Subject: Revision of interest rates for Small Savings Schemes.
The undersigned is directed to refer to this Department’s OM of even number dated 16th February, 2016, vide which the various decisions taken by the Government regarding interest fixation for small savings schemes were communicated to all concerned.
2. 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 2017 -18 starting 1st July, 2017, and ending on 30th September, 2017 , on the basis of the interest compounding payment built-in in the schemes, shall be as under:
InstrumentRate of interest w.r.t. 01.04.2017 to 30.06.2017Rate of interest w.r.t. 01.07.2017 to 30.09.2017Compounding frequency*
Savings Deposit4.04.0Annually
1 Year Time Deposit6.96.8Quarterly
2 Year Time Deposit7.06.9Quarterly
3 Year Time Deposit7.27.1Quarterly
5 Year Time Deposit7.77.6Quarterly
5 Year Recurring Deposit7.27.1Quarterly
5 Year Senior Citizen Savings Scheme8.48.3Quarterly and paid
5 Year Monthly Income Account7.67.5Monthly and paid
5 Year Senior Citizen Savings Scheme7.97.8Annually
Public Provident Fund Scheme7.97.8Annually
Kisan Vikas Patra7.6 
(will mature in 113 months)
(will mature in 115 months)
Sukanya Samriddhi Account Scheme8.48.3Annually

* No Change

3.  This has the approval of Finance Minister
(Navin Agarwal)

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