New Interest rates for Saving Schemes

Instrument Current Rate (%) Proposed Rate (%)
Savings Deposit 3.50 4.0
1 year Time Deposit 6.25 7.7
2 year Time Deposit 6.50 7.8
3 year Time Deposit 7.25 8.0
5 year Time Deposit 7.50 8.3
5 year Recurring Deposit 7.50 8.0
5-year SCSS 9.00 9.0
5 year MIS 8.00 (6 year MIS) 8.2
5 year NSC 8.00 (6 year NSC) 8.4
10 year NSC New Instrument 8.7
PPF 8.00 8.6


(iv) Payment of 5% bonus on maturity of MIS will be discontinued.
Commission to Agents

(i) Payment of commission on PPF schemes (1%) and Senior Citizens Savings Scheme (0.5%) will be discontinued.
(ii) Agency commission under all other schemes (except MPKBY agents) will be reduced from existing 1% to 0.5%.
(iii) Commission at existing rate of 4% will continue for Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents.
(iv) Incentives, if any, paid by the State/UT Governments will be reduced from the commission paid by the Central Government.