REVISION OF INTEREST RATES OF POST OFFICE SMALL SAVINGS SCHEMES FOR 2014-2015
Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15
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
|
INTEREST RATE TABLE | |||||||
Name of scheme
|
Period
|
Up To
30/11/2011
|
w.ef 1/12/2011
|
w.e.f
1/4/2012
|
w.e.f
1/4/2013
| ||
Savings Account
|
General
|
3.50%
|
4.00%
|
4.00%
|
4.00%
| ||
Time Deposit
|
I yr
|
6.25%
|
7.70%
|
8.20%
|
8.20%
| ||
2 yr
|
6.50%
|
7.8%
|
8.30%
|
8.20%
| |||
3 yr
|
7.25%
|
8.00%
|
8.40%
|
8.30%
| |||
5 yr
|
7.50%
|
8.30%
|
8.50%
|
8.40%
| |||
Recurring Deposit
|
5 yr
|
7.50%
10-728.90
|
8.00%
10-738.62
|
8.40%
10-746.51
|
8.30%
10-744.53
| ||
M I S
|
5 yr
|
8.00%
(6 Yr)
|
8.20%
|
8.50%
|
8.40%
| ||
S C S S
|
5 yr
|
9%
|
9.00%
|
9.30%
|
9.20%
| ||
P P F
|
15 yr
|
8%
|
8.6%
|
8.80%
|
RD Maturity Value for Denomination of Rs.100
Maturity Value before 01.12.2011
|
Maturity Value w.e.f 01.04.2012 to 31.03.2013
|
Maturity Value w.e.f 01.04.2013
|
Interest @ 7.5 %
|
Interest @ 8.4 %
|
Interest @ 8.3 %
|
Rs. 7289/-
|
Rs. 7465/-
|
Rs. 7445/-
|
RD Maturity Value for Denomination of Rs. 100/-
in case of extension after 5 Years
Maturity Period
|
Interest @ 8.40 %
01.04.2012 to 31.03.2013
|
Interest @ 8.30% w.e.f 01.04.2013
|
5 Years
|
7465
|
7445
|
6 Years
|
9368
|
9338
|
7 Years
|
11436
|
11392
|
8 Years
|
13682
|
13622
|
9 Years
|
16124
|
16044
|
10 Years
|
18777
|
18672
|
Monthly Interest before 01.12.2011
|
Monthly Interest w.e.f 01.04.2012 to 01.04.2013
|
Monthly Interest w.e.f 01.04.2013
|
Interest @ 8.0%
|
Interest @ 8.5%
|
Interest @ 8.4%
|
Rs. 1000/-
|
Rs.1062/-
|
Rs.1050/-
|
Maturity Value before 01.12.2011
|
Maturity Value w.e.f 01.04.2012 to 31.03.2013
|
Maturity Value w.e.f 01.04.2013
|
Interest @ 8.0%
|
Interest @ 8.6%
|
Interest @ 8.5 %
|
Rs. 16010/- (6 Year)
|
Rs.15235/- (5 Year)
|
Rs.15162/- (5 Year)
|
NSC 10 Year Maturity Value for Denomination of Rs.10000/-
Maturity Value w.e.f 01.04.2012 to 31.03.2013
|
Maturity Value w.e.f 01.04.2013
|
Interest @ 8.9%
|
Interest @ 8.8%
|
Rs.23887/-
|
Rs.23660/-
|
Interest @ 9.3%
|
Interest @ 9.2%
|
Quarterly Interest w.e.f 01.04.2012 to 31.03.2013
|
Quarterly Interest w.e.f 01.04.2013
|
Rs.2325/-
|
Rs.2300/-
|
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