INSUBCONTINENT EXCLUSIVE:
Small savings schemes: Term deposits of one-three years will fetch 0.3% higher interest rate.The government on Thursday announced new
interest rates on small savings schemes, including National Savings Certificate (NSC) and Public Provident Fund (PPF)
The interest rates for small savings schemes were hiked by up to 0.4 per cent for the October-December quarter, the Ministry of Finance said
quarterly basis.Here are 10 things to know:1
The interest rate for the Senior Citizens Savings Scheme (SCSS) has been raised 8.3 per cent, from 8.7 per cent.4
In Kisan Vikas Patra (KVP), the interest rate and maturity period have been revised
Investment in the KVP scheme will fetch an interest rate of 7.7 per cent over a maturity period of 112 months
cent higher than the existing rate.5
There is no change in the compounding frequency of the small savings schemes, the finance ministry said in its statement.7
Interest on deposits in savings account, NSC, PPF, KVP and Sukanya Samriddhi Scheme are compounded on an annual basis.8
are compounded every quarter.9
Here is a comparison of interest rates across small savings schemes:10
The government had in July this year kept the interest rates on small savings schemes unchanged for the fiscal first quarter of
2018-19.(With PTI inputs)
