{"id":7230,"date":"2018-01-03T21:12:54","date_gmt":"2018-01-03T15:42:54","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=7230"},"modified":"2020-06-19T14:14:06","modified_gmt":"2020-06-19T08:44:06","slug":"small-saving-schemes","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/small-saving-schemes\/","title":{"rendered":"Small Savings Scheme Interest Rate – Jan – Mar’19"},"content":{"rendered":"

Government of India announces interest rate on small saving schemes like PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits and Sukanya Samriddhi Account every quarter<\/strong> effective April 2016.<\/p>\n

This is done to keep these interest rates in sync with the market rates.<\/p>\n

The table below shows the interest reset schedule<\/strong>:<\/p>\n

\"Quarterly
Quarterly Interest Reset Schedule for Small Savings Schemes<\/strong><\/figcaption><\/figure>\n

Interest Rates for Q4 FY 2018-19 (Jan – Mar’19)<\/h2>\n

The government has revised the interest rate on post office time deposit schemes while leaving rates of other popular small savings schemes like the PPF (Public Provident Fund), Sukanya Samriddhi account and Senior Citizen Savings schemes unchanged.<\/p>\n

\"Interest
Interest Rate on Small Savings Scheme for January to March 2019<\/strong><\/figcaption><\/figure>\n

Interest Rates for Q3 FY 2018-19 (Oct – Dec’18)<\/h2>\n

As expected the interest rate for Small Saving Scheme has increased by 0.3% to 0.4%. The new PPF & NSC interest rate is 8%. The SCSS interest rate has increased to 8.7% and Sukanya Samriddhi Account would offer 8.5%. You can read the detailed notification here<\/a>.<\/p>\n

\"Interest
Interest Rate on Small Savings Scheme for October to December 2018<\/strong><\/figcaption><\/figure>\n

Interest Rates for Q2 FY 2018-19 (Jul – Sep’18)<\/h2>\n

There has been NO change in the interest rates as compared to the last quarter.<\/p>\n

\"Small
Small Saving Scheme Interest Rate for July to September 2018 Notification<\/strong><\/figcaption><\/figure>\n

The expectation was the interest rates would go up as the\u00a0government bond yields which is the benchmark for setting these rates had gone up. Unfortunately the government is NOT following its own rules!<\/em><\/p>\n

Also Read<\/strong>:\u00a0Highest Interest Rate on FD compared across 46 banks<\/a><\/p><\/blockquote>\n

The table below shows the interest rates:<\/p>\n

\"Interest
Interest Rate on Small Savings Scheme for July to September 2018<\/strong><\/figcaption><\/figure>\n

Download the Official Notification from here<\/a>.<\/p>\n

Interest Rates for Q1 FY 2018-19 (Apr – Jun’18)<\/h2>\n

There has been NO change in the interest rates as compared to the last quarter.<\/p>\n

\"Small
Small Saving Scheme Interest Rate for April – June 2018 Notification<\/strong><\/figcaption><\/figure>\n

The table below shows the interest rates:<\/p>\n

\"Interest
Interest Rate on Small Savings Scheme for April to June 2018<\/strong><\/figcaption><\/figure>\n

Download the Official Notification from here<\/a>.<\/p>\n

Interest Rates for Q4 FY 2017-18 (Jan – Mar’18)<\/h2>\n

The interest rate on small saving schemes have been reduced by 0.2% (except for Senior Citizens Saving Scheme) for January 1, 2018 to March 31, 2018 quarter.<\/p>\n

    \n
  1. \n
      \n
    1. There is No change in\u00a0Senior Citizens Saving Scheme<\/strong> interest rate and would offer 8.3%<\/li>\n
    2. PPF and NSC<\/strong> will fetch a lower annual rate of 7.6% while KVP will yield 7.3% and mature in 118 months.<\/li>\n
    3. Sukanya Samriddhi Account<\/strong> will offer 8.1% from existing 8.3% annually<\/li>\n
    4. Term deposits<\/strong> of 1-5 years will fetch a lower interest rate of 6.6% – 7.4%, to be paid quarterly, while the five-year recurring deposit<\/strong> is pegged at 6.9%.<\/li>\n
    5. Post Office Savings Account<\/strong> Interest Rate has been kept at 4%.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

      Also Read:<\/strong> NSC is better than Tax Saving Bank FD!<\/a><\/p><\/blockquote>\n

      \"Interest
      Interest Rate on Small Savings Scheme for January to March 2018<\/strong><\/figcaption><\/figure>\n

      Download the Official Notification from here<\/a>. There is typo in date 31.04.2018 is actually 31.03.2018!<\/em><\/p>\n

      Interest Rates for Q2\/3 FY 2017-18 (July – Dec’17)<\/h2>\n

      The interest rate on small saving schemes have been reduced by 0.1% from July 2017 for the quarter of July to December 2017.<\/p>\n

      \"Interest
      Interest Rate on Small Savings Scheme for July to September 2017<\/strong><\/figcaption><\/figure>\n

      Interest Rates for Q1 FY 2017-18 (April – June’17)<\/h2>\n

      The interest rates for April to June’17\u00a0quarter have been reduced by 0.1% for all schemes except savings account. The table below gives the details:<\/p>\n

      \"Interest
      Interest Rate on Small Savings Scheme for April to June 2017<\/strong><\/figcaption><\/figure>\n

      How are\u00a0Interest Rates Determined?<\/h2>\n

      For long term and socially important small saving schemes like PPF, SCSS, Sukanya Samriddhi Scheme, NSC and 5 Year post office fixed deposit the rates are fixed as slight mark up to the government bond yields.<\/p>\n

      For other small saving schemes namely Post Office Fixed Deposits (1, 2 and 3 years tenure), Recurring Deposits and Kisan Vikas Patra the interest rates would be market determined, which means would be similar to that offered by banks on corresponding deposits.<\/p>\n

      \n

      Learn all about<\/strong> PPF,<\/a>\u00a0Sukanya Samriddhi Scheme<\/a>\u00a0&\u00a0Senior Citizen Savings Scheme<\/a><\/p>\n<\/blockquote>\n

      The table below gives the markup factor:<\/strong><\/p>\n

      \"Interest
      Interest Rate Markup on Small Savings Scheme from April 2016<\/strong><\/figcaption><\/figure>\n

      Unfortunately government is not following the above rules. There have been substantial reduction in benchmark yields but is not reflected in\u00a0small saving schemes – which is good news for investors.<\/p>\n

      Small Saving Scheme Interest Rates History:<\/h2>\n

      You can click on relevant links to go to historical interest rates:<\/p>\n