Public Provident Fund (PPF) Interest Rate 7.1% – Kissan Vikas Patra (KVP) Interest Rate 6.9% – National Savings Certificate (NSC) Interest Rate 6.8% – For the period between April and June 2020
The Department of Economic Affairs today published an office memorandum regarding revised rates of small savings schemes for the first quarter of 2020-21 Financial year.
The first quarter is starting from 1 April 2020 and ending on 30 June 2020, the below table describes the interest rates for all savings schemes:
Government of India Ministry of Finance
Department of Economic Affairs
North Block, New Delhi
Subject: Revision of interest rates for Small Savings Schemes – reg.
In exercise of the powers conferred by Rule 9(1) of the Government Saving Promotion General Rules, 2018, the rates of interest on various Small Savings Schemes for the first quarter of financial year 2020- 21 starting from 1st April , 2020 and ending on 30th June, 2020 have been revised as indicated below:
|Instruments||Rate of interest from 01.01.2020 to 31.03.2020||Rate of interest from 01.04.2020 to 30.06.2020||Compounding frequency*|
|1 Year Time Deposit||6.9||5.5||Quarterly|
|2 Year Time Deposit||6.9||5.5||Quarterly|
|3 Year Time Deposit||6.9||5.5||Quarterly|
|5 Year Time Deposit||7.7||6.7||Quarterly|
|5 Year Recurring Deposit||7.2||5.8||Quarterly|
|Senior Citizen Savings Scheme||8.6||7.4||Quarterly and paid|
|Monthly Income Account||7.6||6.6||Monthly and paid|
|National Savings Certificate||7.9||6.8||Annually|
|Public Provident Fund Scheme||7.9||7.1||Annually|
|Kisan Vikas Patra||7.6 (will mature in 1 13 months)||6.9 (will mature in 124 months)||Annually|
|Sukanya Samriddhi Account Scheme||8.4||7.6||Annually|
This has the approval of Finance.
Dy. Director (Budget)
Source: Department of Economic Affairs