Small Saving Scheme Interest Rate Hike: There is great news for those investing in Small Saving Scheme. The government has made a big announcement for those investing in these schemes. The new interest rates for the Small Savings Scheme for the third quarter (October-December) have been announced. Let’s know the latest updates.
Small Saving Scheme: There is big news for those investing in small schemes like Sukanya Samriddhi Yojana, FD, Kisan Vikas Patra (KVS). The Central Government has announced new interest rates for the Small Savings Scheme for the third quarter (October-December). Under this, the government has increased the interest rate on small savings schemes by up to 30 basis points for the quarter. After this announcement, the 3-year fixed deposit in post offices has increased to 5.8 percent from the current 5.5 percent. That is, now those investing in these small savings schemes will get more benefits.
Government hikes interest rates
It is noteworthy that under this announcement, the government has increased the interest rate for Senior Citizen Savings Scheme from 7.4% to 7.6%, for Kisan Vikas Patra from 6.9% to 7 percent and also for two and three year fixed deposits. Is. Not only this, changes have also been made in the tenure regarding Kisan Vikas Patra. Let us tell you that now the maturity of KVP with 7 percent interest rate has been increased to 123 months.
No change in these plans
On the other hand, investors of savings deposits, 1-year, 5-year FD, National Saving Certificate (NCS), Sukanya Samriddhi Yojana, Public Provident Fund (PPF) have suffered a major setback, as there is no change in the interest rates on these schemes. has not been done. The investors of these schemes are getting the same interest rates as before. However, investors expected that this time the government can increase these schemes as well. Let us tell you that this increased interest rate has come into effect from October 31. That is, from October 31, investors have started getting fear of increased interest.
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