Senior Citizen Saving Scheme will now get an interest of 7.6 percent. So far it is getting 7.4 percent interest. Let us know about these plans in detail.
New Delhi. The Central Government has given good news to the people investing in Small Saving Schemes. The government on Thursday increased the interest rates of some small savings schemes for the third quarter (October-December). For the quarter starting October 1, the interest rate has been increased by 30 basis points, or 0.3 percent. This increase has been done on some small savings schemes.
The information given by the Ministry of Finance was told that for the quarter of October-December, an interest of 7.6 percent will now be available on the Senior Citizen Saving Scheme. So far it is getting 7.4 percent interest. Let us know about these plans in detail.
>> Those who invest money in these schemes will benefit:
1. On FD of 3 years in the Post Office
2. Senior Citizen Savings Scheme
3. Kisan Credit Card (KCC)
Senior Citizen Savings Scheme: Similarly, interest rates for Senior Citizens Savings Scheme have been increased by 20 basis points. These have been increased from 7.4 percent to 7.6 percent. That is, now there will be more benefit.
Senior citizens can invest a minimum of Rs 1,000 in this scheme. At the same time, the maximum you can invest in this scheme is up to Rs 15 lakh. Senior citizens get exemption under section 80C of Income Tax by investing in this scheme. You can invest money in this scheme for a maximum period of 5 years.
Three-year fixed deposits in post offices: The government has increased the interest rate on three-year fixed deposits in post offices by 0.3 percent in the third quarter of the current financial year. After the amendment, 5.8 percent interest will be available on the deposit of three years in the post office. Till now this rate was 5.5 percent.
Kisan Credit Card: Interest on Kisan Vikas Patra will now be 7.0 percent which was 6.9 percent earlier. With this, it will now mature in 123 months instead of 124 months.
>> There is no change in these plans:
1. PPF
2. National Savings Certificate (NSC)
3. Five Year Recurring Deposit (RD)
4. Sukanya Samriddhi Yojana (SSY)
PPF: The most preferred saving scheme among the salaried is PPF. The government has retained the interest rate on this scheme at 7.1 percent.
National Savings Certificate (NSC): Apart from this, the interest rate on National Savings Certificate (NSC) has also been kept at 6.8 percent. Apart from this, there has been no change in the interest rate of Sukanya Samriddhi.
Five-year recurring deposit (RD): At the same time, interest on five-year recurring deposit will continue to be available at 5.8 percent as before.
