If you are associated with small savings schemes like Public Provident Fund (PPF) and Sukanya Samriddhi, then this news is of your use. Actually, the government has once again kept the interest rates of small savings schemes stable. In this neither relief has been given to the investors nor has there been any deduction. After the decision of the government, the interest rates for the coming April-June quarter will remain the same as at present.
How much interest on which scheme: The government is giving interest at the rate of 7.6 percent per annum on Sukanya Smridhi Yojana. At the same time, 7.4 percent interest is payable on the five-year Senior Citizens Savings Scheme. The rate of interest on savings deposits remains at 4% per annum. Similarly, the interest rate on the one-year fixed deposit scheme will remain at 5.5 per cent.
If we talk about PPF, then there is an interest rate of 7.1 percent per annum. Apart from this, an interest of 6.8 percent is available on National Savings Certificate (NSC). Let us tell you that in addition to the post office RD, the small savings schemes of the government include PPF, Kisan Vikas Patra, Sukanya Samridhi etc.
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There is a churn every quarter: Every quarter, the Finance Ministry brainstorms about the interest rate of small savings schemes. Today is the last day of this quarter i.e. 31st March. This is the reason that the decision has been taken on the interest rates for the coming quarter i.e. from April 1 to June 30.
In the first quarter of the current financial year, the interest rate of small savings schemes was cut by 1.1 percent but after protests, the government withdrew it, saying it was a mistake. Although, this time also the possibility of a cut in interest rates was being expressed, but once again the government has not made any changes in it.