Interest Rates on Small Saving Schemes for Q1 to Q4 of FY 2016-17 (i.e. 1 Apr. 2016 ~ 31 Mar. 2017)

Interest Rates on Small Saving Schemes for Q1 to Q4 of FY 2016-17 (i.e. 1 Apr. 2016 ~ 31 Mar. 2017)

During 2016-17, the Govt. has twice revised interest rates on various small savings schemes, i.e. interest rates for Q3 and Q4 of FY 2016-17 were similar and were mostly based on a cut of 0.1% compared to the rates notified for Q1 and Q2 of FY 2016-17. However, interest rates announced for Q1 of FY 2016-17 were substantially reduced rates as compared to rates prevalent during the FY 2015-16. Relevant notifications, as issued by the Govt. from time to time are as under:

GoI Notification – Revised Interest Rates w.e.f. 1 Apr 2016 on Small Savings

GoI Notification – Revised Interest Rates w.e.f. 1 July 2016 on Small Savings

GoI Notification – Revised Interest Rates w.e.f. 1 Oct. 2016 on Small Savings

GoI Notification – Revised Interest Rates w.e.f. 1 Jan. 2017 on Small Savings

Summary of Interest Rates Applicable for Small Savings Schemes during Financial Year 2015-16 and 2016-17

Instruments Interest Rate 2015-16 Interest Rate (Q1 & Q2) 2016-17 Interest Rate (Q3 & Q4) 2016-17
Savings Deposit (SD) 4.0 4.0 4.0
1 Year Time Deposit (TD) 8.4 7.1 7.0
2 Year Time Deposit (TD) 8.4 7.2 7.1
3 Year Time Deposit (TD) 8.4 7.4 7.3
5 Year Time Deposit (TD) 8.5 7.9 7.8
5 Year Recurring Deposit (RD) 8.4 7.4 7.3
5 Year Senior Citizens Savings Scheme (SCSS) 9.3 8.6 8.5
5 year Monthly Income Scheme (MIS) 8.4 7.8 7.7
5 Year National Savings Certificate (NSC) 8.5 8.1 8.0
Public Provident Fund (PPF) Scheme 8.7 8.1 8.0
Kisan Vikas Patra (KVP) 8.7 7.8* 7.7**
Sukanya Samriddhi Account Scheme (SSAS) 9.2 8.6 8.5

* will mature in 110 months. |** will mature in 112 months.

Related Posts:

Interest Rates on Small Saving Schemes for FY 2019-20 (NSC, PPF, KVP, SSAS, SCSS)

Interest Rates on Small Saving Schemes for FY 2018-19

Interest Rates on Small Saving Schemes for FY 2017-18

Revised PF Interest Rate

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