The government is planning to cut the interest rates of small savings schemes, although there is no confirmation from the government about this yet. For small savings schemes like PPF, NSC, then Sukanya Samriddhi, the government fixes interest rates every quarter. It will be reviewed on June 30. A decision on this can be taken in this meeting. If there is a scissor on interest rates, then from July 1, interest money will be available in small savings schemes.
Experts believe that both financial and monetary support is needed to get back the momentum of the growth rate. The reduction in the interest of small savings schemes will reduce the cost of borrowing of the government, which will support the economy. At the same time, both the Reserve Bank and other banks are in favor of cutting interest rates. Let us tell you that on March 31, the interest rates of small savings schemes were cut, but the very next day Nirmala Sitharaman withdrew this decision, calling it a mistake. Then the government had the compulsion of assembly elections, but now the government has no such compulsion.
How much is the interest on which scheme now?
| savings plan | Latest interest rate in percentage |
| Sukanya Samriddhi Yojana | 7.6 |
| NSC | 6.8 |
| PPF | 7.1 |
| Sukanya Samriddhi Yojana | 7.6 |
| Five Year Senior Citizen Savings Scheme | 7.4 |
| savings deposit | 4 |
| one year fixed deposit | 5.5 |
| Kisan Vikas Patra | 6.9 |
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