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
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