People also like Small Saving Scheme for investment. There is no need to take any risk to invest in these schemes. Apart from this, it gives high and guaranteed returns. The interest rates of Small Saving Scheme are updated every quarter. The government has updated the interest rates for the October to December quarter.
Post Office’s Small Saving Scheme is also popular for investment . While this scheme offers high interest rates, it is a scheme that gives guaranteed returns. The government updates the interest rates of this scheme every quarter.
Recently, the government has updated the interest rates for the third quarter of the current financial year i.e. October to December. If you are also thinking of investing in a small savings scheme, then you should check its latest rates once.
What will be the interest rate this quarter
The government has not made any change in the interest rates for the third quarter. This means that the investor will continue to get the same interest for the next three months as well.
Schemes included in Small Savings Scheme
Many investors are confused about which schemes are included in the small savings scheme. Let us tell you that this scheme includes Public Provident Fund ( PPF ), Senior Citizen Saving Scheme, Sukanya Samriddhi Yojana (SSY), National Saving Certificate (NSC), Post Office Time Deposit Scheme (PODT), Mahila Samman Saving Certificate and Post Office Monthly Income Scheme (POMIS).
According to the table shown above, the highest interest is offered by Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme. These schemes offer a high interest rate of 8.2%. On the other hand, PPF offers an interest rate of 7.1%.
When was the last time the interest rate changed
The government had increased the interest rates of small savings schemes on 31 December 2023. After this, the government has changed only the interest rates of RD and the interest rates of all other small savings schemes remained the same. There has been no change in the interest rates of Public Provident Fund for the last four years. The interest rate of PPF has remained at 7.1 percent since the April-June 2020 quarter.
