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
|
Source :
PIB (Release ID :104482)
