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

Apr 13, 2018 | by Avantis RegTech Legal Research Team

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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


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