INSUBCONTINENT EXCLUSIVE:
FD Interest Rate: A TD small savings scheme now fetches interest at the rates of 5.5-6.7%Small Savings Scheme FD Rate: From April 1,
investment in the Time Deposit (TD) small savings scheme fetches returns to the tune of 5.5-6.7 per cent, compared to 6.9-7.7 per cent in
the quarter ended March 31
The Time Deposit scheme is a term or fixed deposit scheme in which the investment is locked in for a fixed period of time and the interest
is paid on the investment at regular intervals
The Time Deposit small savings scheme is currently offered in four maturity options, ranging from one year to five years
higher return of 6.7 per cent.Time Deposit (Fixed Deposit) Maturity PeriodInterest Rate In January-MarchInterest Rate In
April-JuneCompounding FrequencyOne year6.9%5.5%QuarterlyTwo years6.9%5.5%Three years6.9%5.5%Five years7.7%6.7%(Source: dea.gov.in)The
government has lowered interest rates on most small savings schemes by 80-140 basis points (0.8-1.4 percentage point) for the first quarter
schemes:InstrumentInterest Rate In January-MarchInterest Rate In April-JuneCompounding FrequencySavings Deposit4%4%AnnuallyFive-Year
Recurring Deposit7.2%5.8%QuarterlySenior Citizen Savings Scheme (SCSS)8.6%7.4%Quarterly and paidMonthly Income Account7.6%6.6%Monthly and
paidNational Savings Certificate7.9%6.8%AnnuallyPublic Provident Fund7.9%7.1%AnnuallyKisan Vikas Patra7.9% (matures in 113 months)6.9%
(matures in 124 months)AnnuallySukanya Samriddhi Account8.4%7.6%Annually(Source: dea.gov.in)Currently, the Ministry of Finance offers nine
