Revised Interest Rates (Q4 of 2016-17) on Small Savings (NSC, PPF, KVP, SSAS, SCSS, etc.)

Govt. Notifies Revised / Reduced Interest Rates for Small Savings Schemes (PPF, SCSS, KVP, SSAS, etc.) for 1 Jan. 2017 ~ 31 Mar. 2017 (i.e. Q4 of 2016-17)

On the basis of the decision of the Government, interest rates for small savings schemes are being notified every quarter from this financial year, i.e. 2016-17. Accordingly, the Govt. has notified interest rates on various small savings schemes for Q4 (1 Jan. 2016 to 31 Mar. 2017) of FY 2016-17 which are similar to reduced/ revised interest rates for the Q3 of FY 2016-17 (i.e. 1 Oct. 2016 ~ 31 Dec. 2016), which were mostly based on a cut of 0.1% compared to the rates notified for Q1 and Q2 of FY 2016-17.

Summary of the revised rates of interest on various small savings schemes for the first, second, third and Fourth quarters of financial year (FY) 2016-17 (i.e. Q1: 1 April 2016 ~ 30 June 2016, Q2: 1 July 2016 ~ 30 Sept. 2016, Q3: 1 Oct. 2016 ~ 31 Dec. 2016 and Q4: 1 Jan. 2017 to 31 Mar 2017), on the basis of the interest compounding/ payment built-in in the schemes. is as under:

Small Savings Schemes Interest Rates Chart 2015-16 & 2016-17

InstrumentsInterest Rate 2015-16Interest Rate (Q1 & Q2) 2016-17Interest Rate (Q3 & Q4) 2016-17
Savings Deposit (SD)4.04.04.0
1 Year Time Deposit (TD)8.47.17.0
2 Year Time Deposit (TD)8.47.27.1
3 Year Time Deposit (TD)8.47.47.3
5 Year Time Deposit (TD)8.57.97.8
5 Year Recurring Deposit (RD)8.47.47.3
5 Year Senior Citizens Savings Scheme (SCSS)9.38.68.5
5 year Monthly Income Scheme (MIS)8.47.87.7
5 Year National Savings Certificate (NSC)8.58.18.0
Public Provident Fund (PPF) Scheme8.78.18.0
Kisan Vikas Patra (KVP)8.77.8*7.7**
Sukanya Samriddhi Account Scheme (SSAS)9.28.68.5

* will mature in 110 months ** will mature in 112 months

In short we can say that Latest/ New/ Revised Interest Rate for third and fourth quarters of FY 2016-17 (i.e. 1 Oct. – 31 Dec. 2016 and 1 Jan. – 31 Mar 2017) are; Sukanya Samriddhi Scheme (SSA) – 8.5%, Public Provident Fund (PPF) – 8%, Senior Citizen Savings Scheme (SCSS) – 8.5%, Kisan Vikas Patra (KVP) – 7.7%, National Savings Certificate (NSC) – 8%, Post office MIS (Monthly Income Scheme) is 7.7%, Post Office Recurring Deposit (RD) – 7.3%, Savings Deposit – 4% and Post Office Time Deposit – 7.0% to 7.8% based on tenure (as above).

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

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