Revision
of Interest Rates for Small Savings Schemes for the Financial Year 2014-15
Press
Information Bureau
Government of India
Ministry
of Finance
04-March-2014
Revision of Interest Rates for Small Savings Schemes for
the Financial Year 2014-15 Announced
Various decisions taken by the Government of
India on the recommendations of the Shyamala Gopinath Committee for
Comprehensive Review of National Small Savings Fund (NSSF), were
communicated to all concerned by the Government through its Office Memorandum
dated 11th November, 2011.
One of the decisions of the Government based
on the recommendations of the Committee relates to revision of interest rates every
financial year, to be notified before 1st April of that year. Accordingly
with the approval of the Finance Minister, the rates of interest on various
small savings schemes for the Financial Year 2014-15 effective from 01.04.2014,
on the basis of the interest compounding/payment built-in in the schemes, shall
be as under :
|
Scheme
|
Rate of interest w.e.f.01.04.2013
|
Rate of Interest w.e.f. 01.04.2014
|
|
1.
|
2.
|
3.
|
|
Savings Deposit
|
4.0
|
4.0
|
|
1 Year Time Deposit
|
8.2
|
8.4
|
|
2 Year Time Deposit
|
8.2
|
8.4
|
|
3 Year Time Deposit
|
8.3
|
8.4
|
|
5 Year Time Deposit
|
8.4
|
8.5
|
|
5 Year Recurring
Deposit
|
8.3
|
8.4
|
|
5 Year SCSS
|
9.2
|
9.2
|
|
5 Year MIS
|
8.4
|
8.4
|
|
5 Year NSC
|
8.5
|
8.5
|
|
10 Year NSC
|
8.8
|
8.8
|
|
PPF
|
8.7
|
8.7
|
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