Will be effective from 01.04.2016
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F.No.
1/04/2016-NSA
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block. New Delhi Dated 18" March. 2016
OFFICE MEMORANDUM
Subject: Revision of Interest rates for
Small Savings Schemes.
The undersigned is directed to refer to
this Department's OM of even number dated 16^ February. 2016. vide which the various decisions taken by the
Government regarding interest
fixation for small savings schemes were communicated to all concerned.
2 On the basis of the decisions of the Government.
interest rates for small savings
schemes are to be notified on quarterly
basis. Accordingly, the rates of interest on various small savings schemes for
the first quarter of financial year 2016-17, on the basis of the nterest compounding/payment built-in in the
schemes, shall be as under:
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Instrument
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Rate of Interest WA.f.
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Rate of Interest w.e.f.
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01.04.2018 to 31.3.2016
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01.04.2016 to
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30.6.2016
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Savings Deposit
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4.0
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4.0
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1 Year Time Deposit
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8.4
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7.1
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2 Year Tine Deposit
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8.4
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7.2
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3 Year Time Deposit
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8.4
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7.4
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5 Year Time Deposit
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8.5
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7.9
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5 Year Recurring Deposit
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8.4
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7.4
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5 Year Senior Citizens Savings
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9.3
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8.8
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Scheme
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|
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5 year Monthly Income Account
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8.4
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7.8
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Scheme
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|
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5 Year National Savings
Certificate
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8.5
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8.1
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Public Provident Fund Scheme
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8.7
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8.1
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Kisan Vikas Patra
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8.7
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7.8 OM mature in 110
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|
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months)
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Sukanya Samriddhi Account
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9.2
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8.8
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Scheme
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|
|
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3 The necessary notifications will be notified
separately.
4 This has the approval of Secretary (Economic
Affairs).
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Is 3
ryol 6
(Anil Ku ar
a)
Under Secretary to the Government of India
Tele: 01123093035
Under Secretary to the Government of India
Tele: 01123093035
To
1.7 he Secretary. 2.The
Secretary.
Department of Expenditure Department of Revenue
North Block North
Block
New Delhi. New
Delhi.
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