Govt keeps the interest rates unchanged on small savings schemes

 

According to a notification issued by Finance Ministry, the rates of interest on various small savings scheme for the third quarter of the current financial year starting from 1st of next month will remain unchanged.

Government has kept the interest rates unchanged on small savings schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi for October-December quarter. The decision came ahead of Reserve Bank of India monetary policy review on 4th of October.

Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis.

Investments in the public provident fund scheme will fetch annual rate of 7.8 per cent, while Kisan Vikas Patra investments will yield 7.5 per cent and mature in 115 months. Sukanya Samriddhi Account Scheme will offer 8.3 per cent annually. Similarly, the investment on 5-year Senior Citizens Savings Scheme will yield 8.3 per cent.