Small Savings Scheme: If you invest in small savings schemes like PPF and Sukanya Samriddhi, then this news is of your use. Actually, the central government has taken a decision on the interest rates of small savings scheme.
Small Savings Scheme: If you invest in small savings scheme, then this news is of your use. Actually, the Narendra Modi government at the Center has taken a decision on the interest rates of small savings schemes like Public Provident Fund (PPF) and Sukanya Samriddhi. According to the government notification, the interest rates on these schemes will remain unchanged for the January-March quarter. This means that the interest rate of small savings scheme during the December quarter will remain the same during the March quarter.
What did the government say
A notification of the Finance Ministry said – The interest rates on small savings schemes for the fourth quarter of the financial year 2024-25 will remain unchanged from the rates notified for the third quarter of the financial year. The government had last changed some schemes for the fourth quarter of the financial year 2023-24. Let us tell you that the government notifies the interest rates on small savings schemes run by post offices and banks every quarter.
What is the interest rate of which scheme
- Sukanya Samriddhi Yojana – 8.2 percent interest rate
- Three-year term deposit – 7.1 percent interest rate
- PPF – 7.1 percent interest rate
- Post Office Savings Deposit Scheme – 4 percent
- Kisan Vikas Patra – 7.5 percent (115 months maturity)
- National Savings Certificate (NSC) – 7.7 percent
- Monthly Income Scheme – 7.4 percent
- Senior Citizen Savings Scheme – 8.2 percent
How are interest rates decided
Interest rates on small savings schemes are determined using the methodology proposed by the Shyamala Gopinath Committee. According to the recommendations of the committee, interest rates for various small savings schemes should be 0.25% to 1% higher than government bonds with similar tenure. Due to this, these schemes remain attractive for investors. Let us tell you that this committee had submitted its report in the month of December 2014.
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