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
|
The
necessary notifications will be notified separately in this regard in due
course.
Source : PIB Release, 4th March, 2014
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