As per below mentioned applied on 1st April,2020
1. PPF: For the April-June 2020 quarter, 15-year Public Provident Fund
scheme will fetch an annual interest rate of 7.1% (compounded annually) as
compared to 7.9% earlier.
2. NSC: Interest rate on the National Savings
Certificate (NSC), a government-backed five-year small savings scheme, has been
slashed 110 basis points to 6.8% from 7.9% earlier. The amount is compounded
annually and paid on maturity.
3. KVP: Kisan Vikas Patra (KVP) will now
yield 6.9% (compounded annually), down 70 bps from 7.6% earlier, with maturity
of 124 months.
4. Post office term
deposits: Post
office term deposits of 1-3 years will fetch interest rate of 5.5%, to be paid
quarterly, down by a sharp 140 basis points from 6.9% offered earlier. The
5-year deposit rate now stands revised to 6.7% from 7.7%. The 5-year recurring
deposits will return 5.8% compared with 7.2% earlier.
5. Post Office Monthly
Income Scheme: The
five-year Post Office Monthly Income Scheme (MIS), where interest is paid out
monthly, will fetch 6.6% as compared to 7.6% earlier.
6. Senior Citizens
Savings Scheme: Interest
rate for the five-year Senior Citizens Savings Scheme has been cut 120 bps to
7.4% compared with 8.6% earlier. The interest payout continues to be on a
quarterly basis.
7. Sukanya Samriddhi
Scheme: The
girl child savings scheme Sukanya Samriddhi Yojana Account will now fetch 7.6%
(compounded annually), down 80 bps from 8.4% earlier – the highest rate among
small savings schemes.
8. Savings deposit: The interest rate on savings deposit
has been retained at 4%.
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