Govt Raises Interest Rate on Specific Small Savings Scheme, Check Details Here

New Delhi: In a recent announcement, the government has decided to maintain the existing interest rates for most small savings schemes, with a notable exception. One particular scheme has seen a 20-basis point increase in its interest rate. The government routinely reviews and revises interest rates on various small savings schemes every quarter. During the latest June quarter revision, adjustments were made to the interest rates for the National Savings Certificate, 1-year and 2-year post office deposits, as well as 5-year recurring deposits.

Here are the small savings interest rates applicable for the December quarter:

Savings deposit: 4%

1-year time deposit: 6.9%

2-year time deposit: 7%

3-year time deposit: 7%

5-year time deposit: 7.5%

5-year recurring deposit: 6.7% (up by 0.2%)

Senior citizen savings scheme: 8.2%

Monthly income account scheme: 7.4%

National savings certificate: 7.7%

Public Provident Fund: 7.4%

Kisan Vikas Patra: 7.4% with a 115-month maturity

Sukanya Samriddhi scheme: 8%

This is an ongoing development, and further updates will be provided.

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