- Advertisement -
Home Personal Finance Small savings schemes: Govt keeps interest rates unchanged for Oct-Dec quarter

Small savings schemes: Govt keeps interest rates unchanged for Oct-Dec quarter

0
Small Savings Schemes: Four amazing savings schemes of Post Office, know the complete details including interest rate

The government on Wednesday kept the interest rates on small savings schemes, including PPF and NSC, unchanged for the October-December quarter amid moderating bank deposit rates.

The government on Wednesday kept the interest rates on small savings schemes, including PPF and NSC, unchanged for the October-December quarter amid moderating bank deposit rates.

Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively.




Interest rates for small savings schemes are notified by the Finance Ministry on a quarterly basis.

There is no change in small savings rate for the third quarter, Economic Affairs Secretary Tarun Bajaj said while disclosing second half borrowing target for the current fiscal.

Also Read: UPSC Prelims 2020: SC refuses to postpone civil service exam

Later, a finance ministry notification said the rates of interest on various small savings schemes for the third quarter of 2020-21 ending on December 31 shall remain unchanged from those notified for the second quarter (July-September).

Accordingly, the interest rate for the five-year Senior Citizens Savings Scheme has been retained at 7.4 per cent. The interest on the senior citizens’ scheme is paid quarterly. Interest rate on savings deposits has been retained at 4 per cent annually.

The girl child savings scheme Sukanya Samriddhi Yojana will offer 7.6 per cent rate during the third quarter of the current fiscal.

The annual interest rate on Kisan Vikas Patra (KVP) has been retained at 6.9 per cent.

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com

Exit mobile version