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)
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