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)
VIA sapost,.blogspot.in
