Skip to main content

Revision of interest rates for Small Savings Schemes to be effective from third quarter of Financial Year 2016-17

By

Revision of interest rates for Small Savings Schemes to be effective from third quarter of Financial Year 2016-17


Revision of interest rates for Small Savings Scheme from 1st Oct, 2016 to 31st Dec, 2016


Instruments
Rate of interest 
w.e.f. 01.07.2016 
to 30.09.2016
Rate of interest 
w.e.f. 01.10.2016 
to 31.12.2016
Compounding 
frequency*
Saving Deposit
4.0
4.0
Annually
1 Year Time Deposit
7.1
7.0
Quarterly
2 Years Time Deposit
7.2
7.1
Quarterly
3 Years Time Deposit
7.4
7.3
Quarterly
5 Years Time Deposit
7.9
7.8
Quarterly
5 Years Recurring Deposit
7.4
7.3
Quarterly
5 Years Senior Citizens Savings Scheme
8.6
8.5
Quarterly and paid
5 Years Monthly Income Account Scheme
7.8
7.7
Monthly and paid
5 Years National Savings Certificate
8.1
8.0
Annually
Public Provident Fund Scheme
8.1
8.0
Annually
Kisan Vikas Patra
7.8 
(will mature in 
110 months)
7.7
(will mature in 
112 months)
Annually
Sukanya Samriddhi Account Scheme
8.6
8.5
Annually
Labels:

Comments

Post a Comment

Popular posts from this blog

Model representation to be submitted to Head of the office for grant of One Increment

By
Model representation to be submitted to Head of the office for grant of One Increment Government servants are aware that the Ministry of Finance and Railways, both have already issued orders for grant of one increment in the pre-revised pay scale to nullify the anomaly in respect of central government employees who were in receipt of pre-revised increment between February 2006 to June 2006. A model representation requesting the concerned head of Office for grant of one increment and drawl of arrears is published below for ready use. MODEL REPRESENTATION FOR GRANT OF ONE INCREMENT From : To, Sir / Madam, ·   Sub: Officers who were due to get heir annual increment between February to June during 2006 – Grant of additional increment as one time measure- Request for sanction and drawal of arrears – Reg. Kind reference is invited to the Ministry of Finance, Department of Expenditure O.M.No.10/02/2011- E.III/A dated 19th March, 2012 wherein all the centra...
Post a Comment
Read more>>

Cabinet approves Implementation of the recommendations of 7th Central Pay Commission

By
  The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the implementation of the recommendations of 7 th  Central Pay Commission (CPC) on pay and pensionary benefits.   It will come into effect from 01.01.2016. In the past, the employees had to wait for 19 months for the implementation of the Commission’s recommendations at the time of 5 th  CPC, and for 32 months at the time of implementation of 6 th  CPC.  However, this time, 7 th  CPC recommendations are being implemented within 6 months from the due date. The Cabinet has also decided that arrears of pay and pensionary benefits will be paid during the current financial year (2016-17) itself, unlike in the past when parts of arrears were paid in the next financial year.  The recommendations will benefit over 1 crore employees. This includes over 47 lakh central government employees and 53 lakh pensioners, of which 14 lakh employees and 18 lakh pe...
Post a Comment
Read more>>
By
ENHANCEMENT OF FINANCIAL POWERS OF HSG, HSG-II AND LSG POST MASTERS ( THESE ORDERS ARE IN FORCE. NO REVISION TAKES PLACE SINCE 21 YEARS) A reference is invited to Circular No.62-8/64-CI dated 20.10.1965 delegating financial powers to HSG and LSG Postmasters to incur expenditure of a contingent nature on the following items: a) Replacing, repairing, cleaning, oiling, shifting of electric lights and fittings, fans etc. of the office in a rented building when the charge is a Government liability. b) Repairs of Department bicycles. c) Purchase of earthen pots, glass tumblers, dusters, brooms etc. d) Purchase and repairs to furniture. e) Emergent arrangements for conveyance of mails. 2. The question of enhancement of the powers were being examined in the Directorate in view of the rise in the prices and it has been decided to enhance the powers given to HSG & LSG Postmasters from Rs.30 & Rs.20/- respectively on each occasion to Rs.60/- & Rs.40/- respectively on each o...
1 comment
Read more>>