Interest Rates for Small Savings Schemes for 2nd Quarter FY 2016-17

By | June 21, 2016
(Last Updated On: June 21, 2016)

Quarterly Revision of Interest Rates for Small Savings Schemes

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 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:

InstrumentRate of interest w.e.f. 01.04.2016 to 30.6.2016Rate of interest w.e.f. 01.07.2016 to 30.9.2016Compounding frequency
Savings Deposit4.04.0Annual
1 Year Time Deposit7.17.1Quarterly
2 Year Time Deposit7.27.2Quarterly
3 Year Time Deposit7.47.4Quarterly
5 Year Time Deposit7.97.9Quarterly
5 Year Recurring Deposit7.47.4Quarterly
5 Year Senior Citizens Savings Scheme8.68.6Quarterly and paid
5 year Monthly Income Account Scheme7.87.8Monthly and paid
5 Year National Savings Certificate8.18.1Annual
Public Provident Fund Scheme8.18.1Annual
KisanVikasPatra7.8 (will mature in 110 months)7.8 (will mature in 110 months)Annual
SukanyaSamriddhi Account Scheme8.68.6Annual
Direct Taxes Ready ReckonerService Tax Ready ReckonerCompany Law Ready Reckonertax deduction at source
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