Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2020

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Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2020

Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2020

SB Order No.01 /2020

F.No 113-03/2017-SB
Govt. of India Ministry of Communication
Department of Posts (F.S. Division)

Dak Bhawan, New Delhi-110001
Dated:   01.01.2020


All Head of Circles/Regions
Addi. Director General, APS, New Delhi

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2020


The undersigned is directed to say that vide memorandum No. 01/04/2019-NS dated 31.12.2019 (copy enclosed), Govt.  of India, Ministry of Finance, Department of Economic Affairs (Budget Division) have informed that the rate of interest on various National Small Savings Schemes for the fourth quarter of financial year 2019-20 ( starting from 1st January ,2020 and ending on 31st March, 2020) shall remain unchanged from those notified for the third quarter of Financial Year 2019-20 (01st October 2019 to 31st December,2019). The details are indicated below for ready reference.

SI. No. Instruments Rate of interest w.e.f. 01.10.2019 to 31.12.2019 Rate of interest w.e.f 01.01.2020 to 31.03.2020 (Unchanged) Compounding Frequency*
01. Post Office Savings Account 4.0 4.0 Annually
02. 1 Year Time Deposit 6.9 6.9 Quarterly
03. 2 Year Time Deposit 6.9 6.9 Quarterly
04. 3 Year Time Deposit 6.9 6.9 Quarterly
05. 5 Year Time Deposit 7.7 7.7 Quarterly
06. 5 Year Recurring Deposit 7.2 7.2 Quarterly
07. Senior Citizen Savings Scheme 8.6 8.6 Quarterly and Paid
08. Monthly Income Account 7.6 7.6 Monthly and paid
09. National Savings Certificate (VIII Issue) 7.9 7.9 Annually
10. Public Provident Fund Scheme 7.9 7.9 Annually
11. Kisan Vikas Patra 7.6 (will mature in 113 months) 7.6 (will mature in 113 months) Annually
12. Sukanya Samriddhi Account Scheme 8.4 8.4 Annually

3. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area.The necessary calculation tables will be supplied in due course on receipt from the DEA/MoF.

4. This issues with the approval of Competent Authority.


Yours Faithfully,

(Devendra Sharma)
Assistant Director (SB)

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  • Gopalaswamy Honnavalli 4 years ago

    The ceiling limit of Rs 15 lakhs for SCSS which was fixed years ago when the the was introduced, remains the same but the interest rate has come down from then to now and cost of living has gone up probably by 300%.please raise the ceiling limit to 50 lakhs pay interest monthly and in the
    event of the death of s spouse(both Srs) the surviving spouse can continue to the late spouse’s A/C irrespective of ceiling limit subject to not exceeding to double the ceiling limit. And further in the event of death of both joint holders if the nominee is not a Sr, payment be( it cannot be continued in nominee’s name as the nominee not being a Sr. However if the nominee is a Sr the A/C may be continued in the in nominee’s name for balance period) made to the nominee without deducting penalty amount for pre mature payment to the nominee ,considering the death of both joint the holders as ‘Vis-Major’,death being not in the hands of any one. I hope all the above points be implemented to relive the anxiety of the Srs and more so super Srs.
    Also it is requested that Super Srs(80+) be granted additional interest over the interest paid to Srs as most of the Su Sr r meeting day to day medical expenses and other expenses due to super old age diseases.