PPF-SSY Interest Rate: ‘Bad news’ for PPF-Sukanya Samriddhi investors before Diwali! Government took this decision

Date:

Share:

Small Savings Scheme Interest Rate: If you also invest in the government’s small savings scheme, then this news is for you. The Reserve Bank of India (RBI) has raised the repo rate three times since it was last changed. After this, it was expected that the government could give good news to those investing in small savings schemes by increasing the interest rate in the quarterly review. However, the government has only launched a small number of savings programs to raise the interest rate.

There is no change in the interest rate,
Let us inform you that the government has decided to raise interest rates solely on a select few small savings programs by up to 0.3 percent. The government has taken this step in view of the strengthening of interest rates in the economy at this time. However, the interest on PPF, the preferred savings scheme among the salaried, has been retained at 7.1 percent. Apart from this, the interest rate on National Savings Certificate (NSC) has also been kept at 6.8 percent. In addition, there has been no change in Sukanya Samriddhi’s interest rate.

In the third quarter, the interest rate has been increased by 0.3 percent

On five other schemes on which income is taxable, interest rates have been increased by up to 0.3 percent. After this change, now the post office will get 5.8 percent interest on deposits for three years. Till now this rate was 5.5 percent. In the third quarter of the current fiscal year, the interest rate will rise in this manner by 0.3 percent.

Senior citizens also benefited
In the information given by the Ministry of Finance, it was told that for the October-December quarter, now the senior citizen savings scheme will get interested at the rate of 7.6 percent. On this, 7.4% interest has thus far been paid. The Kisan Vikas Patra now has a revised tenure and interest rate. Under this, the interest in Kisan Vikas Patra has increased from 6.9 percent to 7.0 percent. It will now mature in 123 months rather than 124.

Read more: Govt Scheme: You will get 41 lakh rupees on investment in this government scheme, see what are the plans

Now 6.7 percent interest will be given on the monthly savings scheme instead of 6.6. RBI has increased the key policy rate repo by 1.4 percent since May. As a result, banks are raising interest rates on deposits. Interest on deposits of five years ‘recurring’ or after will be 5.8 percent as before.

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 Facebook Page                  Click Here
🔥 Twitter                               Click Here
🔥 Instagram                  Click Here
🔥 Google News                  Click Here

Subscribe to our magazine

More Like This

6 days banks are to be closed on Holi! finish all necessary work this week

You have to finish all of your jobs this week since the Holi festival is starting next week, and the deadline for settling financial...

You only need this document to give a vote! Voter ID card is not necessary

The dates for the Lok Sabha elections have been set, however, to vote, a voter ID card is required. Voter ID cards are provided...

New Lexus LM 350h luxury MPV, which costs Rs 2 crore unveiled

India has seen the debut of the 2024 LM 350h by luxury automaker Lexus. Starting at Rs 2.00 crore (ex-showroom), it is available. This...

Chance to save income tax before March 31st! these investments & Section 80C will be exempted

The fiscal year is nearly over. Everyone intends to minimize their tax liability. Salaried-class investors can use Section 80C of the Income Tax to...

The GATE 2024 results are now available via this direct link!

The results of the GATE 2024 exam for each of the 30 branches were made available today, March 16, by (IISC) Bengaluru. On the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here