The government has pruned the interest rate by 0.1 percent and has revised the Interest Rates for Small Savings Schemes With Effect from 1ST APRIL,2013
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingly, the rate of interest on various small savings schemes for the financial year 2013-14 effective from 01.04.2013, on the basis of the interest compounding/ payment built-in in the schemes, shall be as under:
|
Scheme |
Rate of Interest w.e.f. 01.04.2012 |
Rate of Interest w.e.f. 01.04.2013 |
|
1 |
2 |
3 |
|
Savings Deposit |
4.0 |
4.0 |
|
1 Year Time Deposit |
8.2 |
8.2 |
|
2 Year Time Deposit |
8.3 |
8.2 |
|
3 Year Time Deposit |
8.4 |
8.3 |
|
5 Year Time Deposit |
8.5 |
8.4 |
|
5 Year Recurring Deposit |
8.4 |
8.3 |
|
5 Year SCSS |
9.3 |
9.2 |
|
5 Year MIS |
8.5 |
8.4 |
|
5 Year NSC |
8.6 |
8.5 |
|
10 Year NSC |
8.9 |
8.8 |
|
PPF |
8.8 |
8.7 |