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
|
