Revised Interest Rate Of POSB Scheme w.e.f January 2019

Order & Circular
Revised Interest Rate Of POSB Scheme w.e.f January 2019
Revised Interest Rate Of POSB Scheme w.e.f January 2019

SB Order No. 1412018

F.No 113-03/2017-SB

Govt. of India

Ministry of communication

Department of Posts

(F.S. Division)

Dak Bhawan, New Delhi-110001

Dated: 31.12.2018

To,

All Head of Circles/Regions Addl. Director General, APS, New Delhi

Subject: – Revision of interest rates for Small Savings Schemes.

Sir/Madam,

The undersigned is directed to say that vide memorandum No. 01/04/2016- NS dated 31.12 2018 (copy enclosed), Govt. of lndia, Ministry of Finance, Department of Economic Affairs (Budget Division) has revised interest rates of small savings schemes for the fourth quarter of the financial year 2018-19 starting 1st January, 2019 and ending on 31st March, 2019 on the basis of interest compounding/payment built-in in the schemes, as under:-

Sl. No. instruments Rate of interest w.e.f .01 .10.2018 to 31.12.2O18 Rate of interest w.e.f 01.01.20’19 to 31 .03.2019 Compounding Frequency
01 Savings Deposit 4.0 4.0 Annually
02 1 Year Time Deposit 6.9 7.0 Quarterly
03 2 Year Time Deposit 7.0 7.0 Quarterly
04 3 Year Time Deposit 7.2 7.0 Quarterly
05 5 Year Time Deposit 7.8 7.8 Quarterly
06 5 Year Recurring Deposit 7.3 7.3 Quarterly
07 5 Year Senior Citizen Account Scheme 8.7 8.7 Quarterly and Paid
08 5 Year Monthly Income Account 7.7 7.7 Monthly and Paid
09 5 Year National Savings Certificate 8.0 8.0 Annually
10 Public Provident Fund Scheme 8.0 8.0 Annually
11 Kisan Vikas Patra 7.7 (will mature in 112 month) 7.7 (will mature in 112 month) Annually
12 Suknya Samriddhi Account Scheme 8.5 8.5 Annually

Cont. on page 2

3. lt is requested to circulate these changes to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in Public area. The necessary calculation tables will be supplied in due course.

4. This issue with the approval of Competent Authority.

Yours Faithfully,

(Devendra Sharma)

Assistant Director (SB-ll)

Copy to:-

1) DDG (FS)/DDG (VIG)/JS&FA/DDG (PAF)/DDG (RByoDG (Estt.)/DDG(PG & inspections)/ DDG (PCO)

2) Director (FS)/Director (CBS), Dak Bhawan.

3) Director of Audit (P&T), Delhi.

4) All Directors/Dy. Directors of Accounts, Postal

5) Director, RAKNPA, Ghaziabad.

6) All Directors, Postal Training Centers.

7) Director CEPT Mysore for uploading the SB order on lndia Post Web Site.

8) Dy. Director CEPT, DMCC/SDC O/o CPMG T.N.Circle. For taking up necessary changes in CBS and Sanchaya Post with concerned teams urgently.

9) AD /lnspection/PF/Vigilance

10) All Accounts Officers ICO(SB)

11) All recognized unions.

12) MOF (DEA), NS-ll, North Block, New Delhi

13) Director, NSl, CGO Complex,’A’Wing, 4th Floor, Seminary Hills, Nagpur 440006

14) PPS to Secretary Posts. 15) PS to Member (Banking).

Download in PDF Format

1 thought on “Revised Interest Rate Of POSB Scheme w.e.f January 2019

Leave a Reply