Showing posts with label Small Savings Interest Rates for 2014-15. Show all posts
Showing posts with label Small Savings Interest Rates for 2014-15. Show all posts
Wednesday, 9 April 2014
Tuesday, 4 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
|
The necessary notifications will be notified
separately in this regard in due course.
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