Interest Rates On PPF, NSC, Other Small Savings Schemes Raised

 

The government has raised interest rates on Small Savings Schemes (SSS), including National Savings Certificate (NSC) and Public Provident Fund (PPF) by up to 0.4% for the October-December quarter, in line with rising deposit rates in the banks. Interest rates for small savings schemes are notified on a quarterly basis.
The interest rate for the different deposits and schemes are as follows: 
Sl.
No.
Instrument Rate of interest
(01.07.2018 to 30.09.2018)
Rate of interest
(01.10.2018 to 31.12.2018)
Compounding frequency
1. Savings Deposit 4.0 4.0 Annually
2. 1 Year Time Deposit 6.6 6.9 Quarterly
3. 2 Year Time Deposit 6.7 7.0 Quarterly
4. 3 Year Time Deposit 6.9 7.2 Quarterly
5. 5 Year Time Deposit 7.4 7.8 Quarterly
6. 5 Year Recurring Deposit 6.9 7.3 Quarterly
7. 5 Year Senior Citizen Savings Scheme 8.3 8.7 Quarterly and paid
8. 5 Year Monthly Income Account 7.3 7.7 Monthly and paid
9. 5 Year National Savings Certificate 7.6 8.0 Annually
10. Public Provident Fund Scheme 7.6 8.0 Annually
11. Kisan Vikas Patra 7.3 (will mature in 118 months) 7.7 (will mature in 112 months) Annually
12. Sukanya Samriddhi Account Scheme 8.1 8.5 Annually


Source- The Hindu Business Lines