GoI Lowers Interest Rates of Small Savings Schemes for Apr-Jun quarter of FY21

The government has cut the interest rates on select small savings schemes by 80-140 basis points (0.8-1.4 percentage point) for the first quarter of 2020-21 (April-June 2020)
The new interest rate will be effective from April 1, 2020.
Interest rates for small savings schemes are notified on a quarterly basis.
The Kisan Vikas Patra will Now Mature in 124 Months.

Instrument	Interest Rate (%) from April 1, 2020	Compounding Frequency
Savings Deposit	4	Annually
1 Year Time Deposit	5.5	Quarterly
2 Year Time Deposit	5.5	Quarterly
3 Year Time Deposit	5.5	Quarterly
5 Year Time Deposit	6.7	Quarterly
5 Year Recurring Deposit	5.8	Quarterly
Senior Citizen Savings Scheme	7.4	Quarterly and Paid
Monthly Income Account	6.6	Monthly and Paid
National Savings Certificate	6.8	Annually
Public Provident Fund	7.1	Annually
Kisan Vikas Patra	6.9	Annually
Sukanya Samriddhi Account	7.6	Annually