Small Savings Schemes Interest Rates: The interest rates of small savings schemes are reviewed every quarter, before the new year the government will revise the interest rates of Small Savings Scheme. It is believed that this time the government may increase the interest rates on many small savings schemes including PPF, let us know the complete information in the news.
Only a few days are left for the new year. This time on New Year, the government can give a big gift to the middle class. In the month of January, the government will revise the interest rates of Small Savings Scheme. It is believed that this time the government may increase the interest rates on many small savings schemes including PPF.
In the meeting to be held on December 29, the government can decide the interest rates for January-March 2024. In this, the government can change the interest rates on everything from Public Provident Fund to National Savings Certificate, Kisan Vikas Patra, Sukanya Samriddhi Account.
Currently the interest on Senior Citizen Saving Scheme is highest
According to experts, this time the government may increase the rates considering the trend of securities yield. Currently, the government is giving interest at the rate of 7.1 percent on the Public Provident Fund Scheme. At the same time, the interest rate on Senior Citizen Saving Scheme is 8.2 percent. The rate of interest on Senior Citizen Saving Scheme is the highest.
Interest rates are reviewed every quarter
According to media reports, the government keeps an eye on both liquidity and inflation factors before deciding on the rates of small savings scheme. The interest rates of small savings schemes are reviewed every quarter.
The change was made on October 1
The Finance Ministry last released interest rates on October 1, 2023. These interest rates were till 31 December 2023. In the month of October, the government had increased the interest rate on only 5 year RD from 6.5 percent to 6.7 percent. Apart from this, there was no change in the interest rates of any scheme. That means the interest rate on other schemes was kept the same. Now it remains to be seen how much the government changes the interest rates for the next quarter.
