For the Financial Year 2015-16 i.e. w.e.f. 1st April, 2015, Government has notified the revised interest rates applicable for various Small Savings Schemes. Except change interest rate in only two schemes i.e. Sukanya Samriddhi Account Scheme and 5 year senior citizen savings scheme, all the remaining small savings schemes including Public Provident Fund, Kisan Vikas Patra, 5 and 10 years National Savings Certificates and Various deposits i.e. Time Deposits, Recurring Deposits and Savings Deposit remains intact.

Scheme NameRate of Interest w.e.f. 1-Apr-2014Rate of Interest w.e.f. 1-Apr-2015ChangeTax on Interest
Savings Deposit4.00%4.00%NillAs per tax slab*
1 Year Time Deposit8.40%8.40%NillAs per tax slab
2 Years Time Deposit8.40%8.40%NillAs per tax slab
3 Years Time Deposit8.40%8.40%NillAs per tax slab
5 Years Time Deposit8.50%8.50%NillAs per tax slab
5 Years Recurring Deposit8.40%8.40%NillAs per tax slab
5 year SCSS, 20049.20%9.30%0.10%As per tax slab
5 Years MIS8.40%8.40%NillAs per tax slab
5 Years NSC8.50%8.50%NillAs per tax slab
10 Years NSC8.80%8.80%NillAs per tax slab
PPF, 19688.70%8.70%NillTax Free
Kisan Vikas Patra8.70%8.70%NilAs per tax slab
Sukanya Samriddhi Account Scheme9.10%9.20%0.10%Tax Free

*Interest earned across all savings account (both bank & post office) is tax free upto Rs. 10,000. Any income above this limit will be taxed as per normal rates. Refer section 80TTA

Interest Rates of Small Savings Schemes for Financial Year 2015-16

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