Government Saving Scheme | Union Bank of India

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Government Saving Scheme

Rate of Interest on Government Deposit

Rate of Interest on Government Deposit:
Rate of interest on these schemes is managed by Government of India and changes Quarterly as notified by GOI time to time.

Instruments	Rate of Interest from 01.04.2020 to 30.06.2020	Compounding frequency*
Savings Deposit	4.0	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 Citizens Savings Scheme	7.4	Quarterly and Paid
Monthly Income Account	6.6	Quarterly and Paid
National Saving Certificate	6.8	Annually
Public Provident Fund Scheme	7.1	Annually
Kisan Vikas Patra	6.9 (will mature in 124 months)	Annually
Sukanya Samriddhi Account Scheme	7.6	Annually

Tax Concessions:
Deposits in the account ( Public Provident Fund, Senior Citizen Saving Scheme, Sukanya Samriddhi Account ) are exempted under section 80-C of Income Tax Act

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Rate of Interest on Government Deposit

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