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. The Central Government on Thursday 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 starting October 1. After this announcement, the 3-year fixed deposit in post offices has increased to 5.8 percent from the current 5.5 percent.
Government hikes interest rates
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 for fixed deposits of two and three years. Not only this, there has also been a change 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 will continue to get the same interest rates as before. Although RBI
RBI meeting tomorrow
It is worth noting that any announcement in such schemes was made after the meeting of RBI. But this time the government has announced it a day before. Actually, the meeting of the MPC of Reserve Bank of India began on September 28 and will end on September 30. In such a situation, it is expected that the policy rates may be revised tomorrow.
