The Reserve Bank of India (RBI) has cut the repo rate. With the aim of giving impetus to the slowing economy, RBI reduced the repo by 0.25 percent to 6.25 percent after almost 5 years.
PPF Interest Rate: If you invest in small savings schemes like Public Provident Fund (PPF) and Sukanya Samriddhi, then this news may disappoint you. Actually, the government may reduce the interest rate of small savings schemes for the first quarter of the new financial year i.e. FY26 i.e. the period from April to June. Let us tell you that the Reserve Bank of India (RBI) has cut the repo rate. After this, to promote consumption, the Finance Ministry may consider reducing the rates for small savings schemes in the next financial year. This information has been given in the news of Business Standard quoting government sources.
Interest rates are stable for March quarter
There was no change in the interest rates on small savings schemes for the March quarter. Let us tell you that the interest rate on deposits under Sukanya Samriddhi Yojana is 8.2 percent. The rate on three-year fixed deposits is at 7.1 percent being given in the third quarter. Apart from this, the interest rates of PPF and post office savings deposit schemes have also been retained at 7.1 percent and four percent respectively. At the same time, the interest rate on Kisan Vikas Patra is 7.5 percent while the interest rate on National Savings Certificate (NSC) remains at 7.7 percent. Investment in Monthly Income Scheme gives 7.4 percent interest.
When was the last change?
The government last made changes in some schemes for the fourth quarter of the financial year 2023-24. The government notifies interest rates on small savings schemes run by post offices and banks every quarter.
What was the decision on repo rate?
RBI on Friday reduced the key policy rate repo by 0.25 percent to 6.25 percent after almost five years with the aim of giving impetus to the slowing economy. The reduction in repo rate means that the monthly installment (EMI) on various loans including home, vehicle is expected to come down.
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