As per Office Memorandum of Ministry of Finance, Department of Economic Affair (Budget Division), the interest rate of PPF, NSC, MIS increased from 01.04.2012, beside this earlier small saving schemes has been effected and revised from 01.11.2011. See the following Office Memorandum:
Sub: Revision of interest rates for small savings schemes.
The undersigned is directed to refer to Ministry of Finance's O.M. of even number dated 11th November, 2011, vide which the various decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned.
2. One of the decisions of the Government based on the recommendations of the Committee relates to revision of interest rates every financial year, to be notified before rt April of that year. Accordingly, the rates of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
Sub: Revision of interest rates for small savings schemes.
The undersigned is directed to refer to Ministry of Finance's O.M. of even number dated 11th November, 2011, vide which the various decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned.
2. One of the decisions of the Government based on the recommendations of the Committee relates to revision of interest rates every financial year, to be notified before rt April of that year. Accordingly, the rates of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
Particulars
|
w.e.f. 1.12.2011
|
w.e.f. 1.4.2012
|
Savings Deposit
|
4.0
|
4.0
|
1 year Time Deposit
|
7.7
|
8.2
|
2 year Time Deposit
|
7.8
|
8.3
|
3 year Time Deposit
|
8.0
|
8.4
|
5 year Time Deposit
|
8.3
|
8.5
|
5 year Recurring Deposit
|
8.0
|
8.4
|
5 year SCSS
|
9.0
|
9.3
|
5 year MIS
|
8.2
|
8.5
|
5 year NSC
|
8.4
|
8.6
|
10 year NISC
|
8.7
|
8.9
|
PPF
|
8.6
|
8.8
|
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