Revised Interest Rates for Small Saving Schemes for Q2 of FY 2019-20 (NSC, PPF, KVP, SSAS, SCSS)
On the basis of the decision of the Government, interest rates for small savings schemes are being notified by the Government before beginning of the each Quarter since FY 2016-17, to bring them somewhat closer to the prevailing market rates. These interest rates continue to be attractive, as some of them enjoy income tax benefits and additional interest rate spreads.
Govt. has notified the revised interest rates for Small Saving Schemes (NSC, PPF, KVP, SSAS, SCSS, etc.) in respect of Q2 of FY 2019-20 (1 July to 30 Sept. 2019) with reduction of 0.10% as compared to Q1 of FY 2019-20 (1 April to 30 June 2019) wherein no change was notified compared to the rates applicable in Q4 of FY 2018-19.
It may be noted that last substantial revision in interest rates was notified by Govt. in respect of Q3 of FY 2018-19, i.e. increased by 0.3% to 0.4% as compared to Q1/ Q2 of FY 2018-19.
Summary of Interest Rates Applicable for Small Savings Schemes during Q1 and Q2 of Financial Year 2019-20
Summarised table of the revised rates of interest applicable for various small savings schemes for the Q1 and Q2 of FY 2019-20 (i.e. 1 Apr. to 30 Jun. 2019), are as under:
(Q1 of 2019-20)
|Interest Rates (Q2 of 2019-20)||Compounding|
|Savings Deposit (SD)||4.0||4.0||Annually|
|1 Year Time Deposit (TD)||7.0||6.9||Quarterly|
|2 Year Time Deposit (TD)||Quarterly|
|3 Year Time Deposit (TD)||Quarterly|
|5 Year Time Deposit (TD)||7.8||7.7||Quarterly|
|5 Year Recurring Deposit (RD)||7.3||7.2||Quarterly|
|5 Year Senior Citizens Savings Scheme (SCSS)||8.7||8.6||Quarterly and Paid|
|5 year Monthly Income Scheme (MIS)||7.7||7.6||Monthly and Paid|
|5 Year National Savings Certificate (NSC)||8.0||7.9||Annually|
|Public Provident Fund (PPF) Scheme||8.0||7.9||Annually|
|Kisan Vikas Patra (KVP)||7.7*||7.6**||Annually|
|Sukanya Samriddhi Account Scheme (SSAS)||8.5||8.4||Annually|
* will mature in 112 months | ** will mature in 113 months
Latest Interest Rates for Small Savings Schemes (Applicable during Q1 of 2019-20)
Revised interest rates of Small Savings Schemes (NSC, PPF, KVP, SSAS, SCSS, etc.) in respect of Q2 of FY 2019-20 (i.e. 1 July to 30 Sept. 2019), are as under:
i) Sukanya Samriddhi Account Scheme (SSAS) – 8.4%
ii) Public Provident Fund (PPF) – 7.9%,
iii) Senior Citizen Savings Scheme (SCSS) – 8.6%,
iv) Kisan Vikas Patra (KVP) – 7.6%
v) National Savings Certificate (NSC) – 7.9%,
vi) Post office MIS (Monthly Income Scheme) is 7.6%,
vii) Post Office Recurring Deposit (RD) – 7.2%
viii) Savings Deposit – 4% (No Change), and
ix) Post Office Time Deposit – 6.9% to 7.7% based on tenure of 1 to 5 years.