Small Savings Scheme: Before the beginning of the festive season, the Modi government has given a gift to the people investing in the Small Savings Scheme. Let us inform you that the government has announced the interest rates on small savings schemes for the quarter from October to December.
Government increased the interest rate on RD
For information, let us tell you that the government has increased the interest rates on 5 year ranking deposit i.e. RD. However, except one scheme, the government has not changed the interest rate on any scheme.
The 5-year RD has been increased by 20 basis points i.e. 0.20 percent. With this, the interest rate on 5 year RD has been increased from 6.5 percent to 6.7 percent. This new method will be applicable from October 1 to December 31.
Interest will be available on remaining schemes as before
For your information, let us tell you that interest on investments in Senior Citizen Saving Schemes, National Saving Certificate, PPF Kisan Vikas Patra and Sukanya Samriddhi Yojana will continue to be available as before.
How much interest is being received in which scheme?
Senior Citizen Savings Scheme – 8.2% interest
Monthly Income Account Scheme – 7.4% interest
National Savings Certificate- 7.7% interest
Public Provident Fund- 7.1% interest
Kisan Vikas Patra – 7.5% interest (on maturity in 115 months)
Sukanya Samriddhi Yojana- 8.0% interest
Savings Account- 4.0% interest
1 year time deposit – 6.9% interest
2 years time deposit – 7.0% interest
3 years time deposit – 7.0% interest
5 years time deposit – 7.5% interest
5 year recurring deposit – 6.7% interest (till now it was 6.5%)
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