Small Savings Scheme Latest Interest Rate: Giving relief to crores of investors who have invested their money in Small Saving Schemes, the government has decided not to make any change in the interest rates for the July-September quarter. That is, the interest rates you were getting on these schemes till now will continue to be the same in the next quarter as well. Through these schemes, the government wants to promote the habit of saving among the people.

The government has created small schemes especially keeping in mind small investors, senior citizens, women and people from rural areas. These schemes offer a fixed interest rate, which is decided on a quarterly basis.

Relief for those investing in small schemes

This decision of the government is going to bring a lot of relief to those who have invested in Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS), Post Office FD, Post Office Monthly Income Scheme (POMIS) and National Savings Certificate (NSC), because it was expected that the government could cut the interest rates this time.

You will get this much return on these schemes

Sukanya Samriddhi Yojana (SSY): The excellent return of 8.2% on this scheme will continue in the next quarter as well.

Public Provident Fund (PPF): This scheme will give an annual interest rate of 7.1%. This is a good option for long term savings.

Post Office Term Deposit: You will get 7.1% return on 3 year Post Office Term Deposit.

Senior Citizen Savings Scheme (SCSS): This scheme will give a return of 8.2%. This is a safe investment option for senior citizens.

Post Office Term Deposit: You will get 7.1% return on 3 year Post Office Term Deposit.

Post Office Savings Account: It will continue to give 4% return.

Kisan Vikas Patra (KVP): Investors will get a return of 7.5% on this scheme, which will double your money in 115 months.

National Savings Certificate (NSC): This will give 7.7% interest rate. This is a good investment option for investors who want fixed returns

Post Office Monthly Savings Scheme (POMIS): This scheme offers 7.4% return. This option is good for those looking for regular income.

How are interest rates determined?

The government reviews the interest rates on post office schemes every quarter. The interest rates of these schemes are determined according to the method suggested by the Shyamala Gopinath Committee.

 

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