Good news! Interest rates of Small Savings Schemes hiked by .3% to 0.4%; Check out the latest rates

After a long time, the government has increased interest rates on small savings schemes. This will save small savers and investors a lot.

Interest rates for various schemes including PPF, NSC increased by up to 0.4%, interest rates on senior citizens' deposits. Good news! Interest rates of Small Savings Schemes hiked by .3% to 0.4%; Check out the latest rates

PPF, Sukanya samraddhi and NSC interest rates increases up to 0.4%

The Central Government has increased interest rates on PPF (provident fund) and NSC (National Savings Certificate) 0.4 percent.
This increase has been made for the upcoming October-December quarter. Therefore, the interest rate on this has now gone up to 7.6, now it is 8.0.

This is good news for those who invest in small savings schemes. The central government has increased interest rates in the October-December quarter for many small savings schemes including National Savings Certificate (NSC) and PPF. 
All schemes have increased by 0.4 percent. Interest rates for small savings schemes are revised on a quarterly basis. PPF and NSC will now get interest on 8% per year.

Here's What Industry Insiders Say About PPF, Sukanya Samraddhi And NSC Interest Rates Increases Up To 0.4% by Center Government.

According to the Ministry of Finance, from October 1 to December 31, 2018, the new rates will be applicable for the third quarter.

The interest rate of Sukanya Samrudhi Yojana has also increased and now it will be 8.5 percent.
Interest rates on three-year deposits have been increased by 0.3 percent.
Fixed deposits for 5 years will be 7.8% and Senior Citizen Savings Scheme will get 8.7% interest. Interest on Senior Citizens Savings Scheme is given on quarterly basis.
Kisan Vikas Patra (KVP) will have 7.7 percent interest and it will be completed in 118 months instead of 112 months.

I hope you found this article useful we will be coming up with more interesting topics like these so stay tuned and until next time have a great day,

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