Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.01.2021

Revision of interest rates for National (Small) Savings Schemes for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31st March, 2021)

SB Order No. 38/2020

e.F.No 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(FS Division)

Dak Bhawan, New Delhi-110001
Dated: 31.12.2020

To,

All Head of Circles/Regions

Subject: Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.01.2021

Sir/Madam,

The undersigned is directed to say that vide memorandum No. 1/4/2019-NS dated 30.12.2020 (copy enclosed), Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) have informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the fourth quarter of financial year 2020-21 (starting from 1st January, 2021 and ending on 31st March, 2021) shall remain unchanged from those notified for the third quarter of Financial Year 2020-21 (01st October, 2020 to 31st December, 2020). The details are indicated below for ready reference: –

SI. No.	Instruments	Rate of interest w.e.f. 01.10.2020 to 31.12.2020	Rate of interest w.e.f 01.01.2021 to 31.03.2021 (Unchanged)	Compounding Frequency*
0 I.	Post Office Savings Account	4 .0	4.0	Annually
02.	I Year Time Deposit	5.5	5.5	Quarterly
03.	2 Year Time Deposit	5.5	5.5	Quarterly
04.	3 Year Time Deposit	5.5	5.5	Quarterly
05.	5 Year Time Deposit	6.7	6.7	Quarterly
06.	5 Year Recurring Deposit Scheme	5.8	5.8	Quarterly
07.	Senior Citizen Savings Scheme	7.4	7.4	Quarterly and Paid
08.	Monthly Income Account	6.6	6.6	Monthly and paid
09.	National Savings Certificate (VIIIth Issue)	6.8	6.8	Annually
10.	Public Provident Fund Scheme	7.1	7.1	Annually
11.	Kisan Vikas Patra	6.9 (will mature in 124 months)	6.9 (will mature in 124 months)	Annually
12.	Sukanya Samriddhi Account Scheme	7.6	7.6	Annually

2. 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.

3. This issues with the approval of Competent Authority.

Yours Faithfully,

(Devendra Sharma)
Assistant Director (SB-II)

Enclosure: Interest rates for Small Savings Schemes 4th quarter of 2020-21 from 1st Jan, 2021 to 31st Mar 2021

Copy to:-

1. Sr. PPS to Secretary (Posts)

2. PS to Director General Postal Services.

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Also check the following links related to this topic:

Relaxation guidelines in small savings schemes – DOP

Revised interest rates for Small Savings Schemes

Revision of interest rates for Small Savings Schemes