PPF-SSY-NSC interest rates: This has been told by issuing a notification from the Ministry of Finance. This time the government has increased the interest rates of RD by 0.3 percent. The government has taken this step in the midst of rising interest rates on bank deposits.
Small Savings Interest Rates Increased: The Central Government has given a big gift to those who invest money in savings schemes. If you have also invested money in savings schemes, then from now on you will get the benefit of more interest. This has been told by issuing a notification on behalf of the Finance Ministry. This time the government has increased the interest rates of RD by 0.3 percent. The government has taken this step in the midst of rising interest rates on bank deposits.
This decision was taken regarding PPF
Let us tell you that there has been no change in the interest received on the popular Public Provident Fund (PPF) among investors and it has been retained at 7.1 percent.
Finance Ministry gave information
According to the information received from the Ministry of Finance, the highest interest amount has been increased on 0.3 percent RD. With this, the frequency deposit holders will get 6.5 percent interest in the second quarter of the current financial year, which was 6.2 percent till now.
How much interest will be available on post office FD?
After the review of interest rates, the interest on one year FD in post offices will increase by 0.1 percent to 6.9 percent. At the same time, the interest on two-year FD will now be 7.0 percent, which was 6.9 percent till now. However, interest on three-year and five-year term deposits has been retained at 7.0 per cent and 7.5 per cent, respectively.
No change in rates on PPF and Savings Account
With this, interest on deposits in PPF (PPF Account) has been maintained at 7.1 percent and interest on deposits in Savings Accounts at 4.0 percent. No changes have been made in any of these.
There was no change in the interest rates of NSC.
The interest on national savings certificate has also been retained at 7.7 percent from July 1 to September 30, 2023.
How much interest will be received on SSY and SCSS?
The interest rate on Sukanya Samriddhi Yojana, a savings scheme for girls, is also unchanged at 8.0 percent. Interest on Senior Citizen Savings Scheme and Kisan Vikas Patra will be 8.2 percent and 7.5 percent respectively.
Monthly income plan
Earlier, interest on small savings schemes were increased in the January-March quarter as well as in the April-June quarter. Interest rates on small savings scheme are notified on a quarterly basis. There has been no change in the interest on the monthly income plan and it will continue to get 7.4 percent interest as before.
RBI did not change the interest rates
It is noteworthy that the Reserve Bank of India has increased the policy repo rate by 2.5 percent to 6.5 percent from May last year to bring inflation under control. Due to this, interest rates on deposits have also increased. Although the central bank has not increased the policy rate in the last two monetary policy reviews.
