According to the data, interest rates on many post office savings schemes were kept the same for five consecutive quarters. Post office savings schemes like PPF, NSC and Sukanya Samriddhi Yojana are being run.
The central government can take a big decision soon regarding interest rates. The interest rates of many government schemes are revised every three months. This happens for the quarter of March, June and September. Because of this, this time the government can announce something new regarding the interest rates of government schemes till September 30.
If official sources are to be believed, this time the interest rates of some schemes of PPF, GPF and Post Office may be revised. This will affect your income. If interest rates rise, earnings will increase and if rates fall, earnings will decrease. However, it may also happen that the interest rates should be kept the same, because in the last quarter i.e. till June 30, there was no change in the interest rates of small savings schemes by the government. Now the eyes of consumers are on the July to September quarter.
According to the data, interest rates on many post office savings schemes were kept the same for five consecutive quarters. Post office savings schemes like PPF, NSC and Sukanya Samriddhi Yojana are being run. These were kept at the old interest rates. Investors are expecting that this time earnings may increase and possibly for this the government can increase interest rates.
According to the last quarter, the interest rates applicable at this time are 7.10 on PPF, 6.8 percent on NSC and 6.6 percent on Post Office Monthly Saving Scheme. At the same time, four percent interest is being given on the savings account of the post office. However, its interest gets compounded every year.
In addition, the Sukanya Samriddhi Yojana has an interest rate of 7.6 per cent and is compounded every year. Kisan Vikas Patra, which matures in ten years and four months, is getting interest at the rate of 6.9 percent. The five-year National Savings Certificate (NSC) carries an interest rate of 6.8 per cent and is also compounded once a year.
