RBI keeps interest rates for Small Savings Schemes unchanged for first quarter of financial year 2018-19 starting April 01, 2018

Reserve Bank of India (RBI) vide notification dated April 12, 2018 has stated that the interest rates on Small Savings Schemes for the first quarter of financial year 2018-19 starting April 01, 2018 shall remain unchanged from those notified for the fourth quarter of FY 2017-18.

The interest rate for Small Savings Schemes shall be as under:

Instrument

Rate of Interest with respect to April 01, 2018 to June 30, 2018

Compounding Frequency

Saving Deposits

4.0

Annually

1 Year Time Deposit

6.6

Quarterly

2 Year Time Deposit

6.7

Quarterly

3 Year Time Deposit

6.9

Quarterly

5 Year Time Deposit

7.4

Quarterly

5 Year Recurring Deposit

6.9

Quarterly

5 Year Senior Citizen Saving Scheme

8.3

Quarterly and paid

5 Year Monthly Income Account

7.3

Monthly and paid

5 Year National Saving Scheme

7.6

Annually

Public Provident Fund Scheme

7.6

Annually

Kisan Vikas Patra

7.3 (will mature in 118 months)

Annually

Sukanya Samruddhi Account Scheme

8.1

Annually

 

[RBI/2017-18/160 DGBA.GBD. 2573/15.02.005/2017-18]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT160395332E13C824AB4B0E26293CDC0D0F7.PDF