REVISION OF INTEREST RATES OF PUBLIC PROVIDENT FUND SCHEME

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Please refer to circular
RBI/2011-12/359 dated January 20, 2012 regarding interest rates on small
savings schemes, wherein it was indicated that as per Government’s decision on
revision of interest on small savings schemes, the interest rates on various
small savings schemes for every financial year will be notified by the
Government before April 1st of
that year.
The Government of India has now
vide their Office Memorandum (OM) No. 6-1/2011-NS.II dated 4th March 2014,
advised the rate of interest on various small savings schemes for the financial
year 2014-15. Accordingly, the rates of interest on PPF, 1968 and SCSS, 2004
for the financial year 2014-15, effective from April
01, 2014, on the basis of the interest compounding/payment
built-in in the schemes, will be as under: 
  
Scheme
Rate of Interest w.e.f. 01.04.2013
Rate of Interest w.e.f. 01.04.2014
5 Year SCSS, 2004
9.2% p.a.
9.2% p.a.
PPF, 1968
8.7% p.a.
8.7% p.a.
  
The contents of this circular may
be brought to the notice of the branches of your bank operating the PPF, 1968
and SCSS, 2004 schemes. These should also be displayed on the notice boards of
your branches for information of the PPF, 1968 & SCSS, 2004 subscribers.

Interest
Rate chart for all Popular schemes wef 01.04.2014 is given below
Scheme
Rate of interest
w.e.f.01.04.2013
Rate of Interest
w.e.f. 01.04.2014
1.
2.
3.
Savings Deposit
4.0
4.0
 1 Year Time Deposit
8.2
8.4
 2 Year Time Deposit
8.2
8.4
 3 Year Time Deposit
8.3
8.4
 5 Year Time Deposit
8.4
8.5
 5 Year Recurring
Deposit
8.3
8.4
 5 Year SCSS
9.2
9.2
 5 Year MIS
8.4
8.4
 5 Year NSC
8.5
8.5
 10 Year NSC
8.8
8.8
PPF
8.7
8.7
RECOMMENDED READ  DEDUCTION FROM SALARY FOR F.Y. 2013-2014/ A.Y. 2014-2015

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