Small savings schemes interest rate hike: In the midst of rising inflation, the government has given a good opportunity to the general public to save more by investing in small savings schemes. The government has increased the interest rate of small savings schemes like Sukanya Samriddhi Yojana.
Small savings schemes interest rate hike: In the midst of rising inflation, the government has given a good opportunity to the general public to save more by investing in small savings schemes. The government has increased the interest rate of small savings schemes like Sukanya Samriddhi Yojana.
Giving information about the change in the interest rate in the savings scheme, Finance Minister Nirmala Sitharaman said on Friday that schemes like Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi (SSY) and National Savings Certificate (NSC) will now get more interest.
The interest rate of these small savings schemes has been increased by 0.70 per cent. This increased interest rate on these schemes will be applicable from April to June 2023 quarter. Along with this, the Finance Minister said that the interest rate on PPF remains the same, no changes have been made in it.
The interest rate has been increased in Senior Citizen Savings Schemes, Monthly Income Savings Schemes, National Savings Certificate, Kisan Vikas Patra, all Post Office Time Deposits and Sukanya Samriddhi Yojana.
How much interest will be available on which scheme now?
- The interest rate for Senior Citizen Savings Schemes has been increased from 8 per cent to 8.2 per cent.
- The interest rate for Kisan Vikas Patra has been increased from 7.2 percent to 7.5 percent.
- Interest rates have also been increased for one, two, three and five year time deposits.
- The interest rate on monthly income account schemes has been increased from 7.1 per cent to 7.4 per cent.
- The interest rate for National Savings Certificate has been increased from 7 per cent to 7.7 per cent.
- In Sukanya Samriddhi Yojana, the interest rate has been changed from 7.6 percent to 8 percent.
