Small Savings Schemes Interest Rates revised w.e.f 1st April, 2014

Small Savings Schemes Interest Rates revised w.e.f 1st April, 2014

The Government, based on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), announces 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 April 2014, on the basis of the interest compounding/payment built-in in the schemes, shall be as under

Schemes

Revised Rates from 1st April 2014 (%)

Existing rate for 2013-2014 (%)

Post office Savings Deposit

4

4

1- Year Time Deposit

8.4

8.2

2 - Year Time Deposit

8.4

8.2

3- Year Time Deposit

8.4

8.3

5-Year Time Deposit

8.5

8.4

5 -Year Recurring Deposits

8.4

8.3

5  - Year Senior Citizens Savings Scheme (SCSS)

9.2

9.2

5- Year Monthly Income Scheme(MIS)

8.4

8.4

5- Year National Savings Certificate(NSC)

8.5

8.5

10 - Year National Savings Certificate (NSC)

8.8

8.8

Public Provident Fund (PPF)

8.7

8.7

 

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