DoP Order 2020 – Revision of interest rates for Small Savings Scheme w.e.f. 01.01.2020
Revision of interest rates for Small Savings Scheme 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
To,
All Head of Circles/Regions Addl. Director General, APS, New Delhi
Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2020.
Madam/Sir,
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.
| 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* |
| Post Office Savings Account | 4.0 | 4.0 | Annually |
| 1 Year Time Deposit | 6.9 | 6.9 | Quarterly |
| 2 Year Time Deposit | 6.9 | 6.9 | Quarterly |
| 3 Year Time Deposit | 6.9 | 6.9 | Quarterly |
| 5 Year Time Deposit | 7.7 | 7.7 | Quarterly |
| 5 Year Recurring Deposit | 7.2 | 7.2 | Quarterly |
| Senior Citizen Savings Scheme | 8.6 | 8.6 | Quarterly and Paid |
| Monthly Income Account | 7.6 | 7.6 | Monthly and paid |
| National Savings Certificate (VIII Issue) | 7.9 | 7.9 | Annually |
| Public Provident Fund Scheme | 7.9 | 7.9 | Annually |
| Kisan Vikas Patra | 7.6 (will mature in 113 months) | 7.6 (will mature in 113 months) | Annually |
| Sukanya Samriddhi Account Scheme | 8.4 | 8.4 | Annually |
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.
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)
Source: DOP