Rotational Transfer - DOP Clarification dtd 24.06.2019
Interest Rate decrease by 0.1% for all POSB categories except Savings Deposit from 01.07.2019 to 30.09.2019 Jun 28, 20190 comments Revised Interest Rate Of POSB Scheme w.e.f July 1st, 2019 F.No.01/04/2016-NS Government of India Ministry of Finance Department of Economic Affairs (Budget Division) North Block, New Delhi Dated: 28.06.2019 Subject: Revision of interest rates for Small Savings Schemes. The undersigned is directed to refer to this Department’s OM of even number dated 16th February 2016, vide which the various decision was taken by the Government regarding interest fixation for small savings schemes were communicated to all concern. 2. On the basis of the decision of the Government, interest rates for small savings are to be notified on quarterly basis Accordingly, the rates of interest on various small savings scheme for the second quarter of financial year 2019-20 starting 1st July 2019, and ending on 30th September, 2019 on the basis of the interest compounding/payment build in the schemes, shall be as under: Sl. No. instruments Rate of interest w.e.f . 01.04.2019 to 30.06.2019 Rate of interest w.e.f 01.07.20’19 to 30 .09.2019 Compounding Frequency 01 Savings Deposit 4.0 4.0 Annually 02 1 Year Time Deposit 7.0 6.9 Quarterly 03 2 Year Time Deposit 7.0 6.9 Quarterly 04 3 Year Time Deposit 7.0 6.9 Quarterly 05 5 Year Time Deposit 7.8 7.7 Quarterly 06 5 Year Recurring Deposit 7.3 7.2 Quarterly 07 5 Year Senior Citizen Account Scheme 8.7 8.6 Quarterly and Paid 08 5 Year Monthly Income Account 7.7 7.6 Monthly and Paid 09 5 Year National Savings Certificate 8.0 7.9 Annually 10 Public Provident Fund Scheme 8.0 7.9 Annually 11 Kisan Vikas Patra 7.7 (will mature in 112 month) 7.6 (will mature in 113 month) Annually 12 Suknya Samriddhi Account Scheme 8.5 8.4 Annually *No Changes 3. This has the approval of finance ministry. To 1. The Secretory, Department of Expenditure, North Block, New Delhi 2. The Secretory, Department of Revenue, North Block, New Delhi 3. The Secretory, Department of Post, Dak Bhawan, New Delhi 4. The Secretory, Department of Financial Services Jeevan Deep Building, Parliament Street, New Delhi 5. The Director, National Savings Institute, New Delhi 6. Chief General Manager, Department of Govt and Bank Accounts, Reserve Bank of India, Central Office, Mumbai 7. Reserve Bank of India, Central Accounts Section, Additional Accounts Section, East High Court Road, Nagpur-44000 8. Chief Secretaries of States/UT Government
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