No.6-1.2011-NS.II(Pt.)
Ministry of
Finance
Department of
Economic Affairs
(Budget
Division)
OFFICE MEMORANDUM
Sub: Revision of interest rates for small savings schemes.
The undersigned is directed to
refer to Ministry of Finance's O.M. of even number dated 11th November, 2011,
vide which the various decisions taken by the Government on the recommendations
of the Shyamala Gopinath Committee for Comprehensive Review of National Small
Savings Fund (NSSF), were communicated to all concerned.
2. 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, the rates of interest on various small
savings schemes for the financial year 2012-13 effective from 1.4.2012, on the
basis of the interest compounding/payment built-in the schemes, shall be as
under:
Scheme
|
Rate of Interest
w.e.f. 1.12.2011 |
Rate of Interest
w.e.f. 1.4.2012 |
Savings Deposit
|
4.0
|
4.0
|
1 year Time Deposit
|
7.7
|
8.2
|
2 year Time Deposit
|
7.8
|
8.3
|
3 year Time Deposit
|
8.0
|
8.4
|
5 year Time Deposit
|
8.3
|
8.5
|
5 year Recurring Deposit
|
8.0
|
8.4
|
5 year SCSS
|
9.0
|
9.3
|
5 year MIS
|
8.2
|
8.5
|
5 year NSC
|
8.4
|
8.6
|
10 year NSC
|
8.7
|
8.9
|
PPF
|
8.6
|
8.8
|
3. Necessary notifications, including those requiring amendments to rules of small savings schemes will be notified separately.
4. This has the approval of Finance Minister.
sd/-
(Shaktikanta
Das)
Addl. Secretary
to the Govt. of India
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