Big update from the government on the interest rates of small savings schemes, notification issued
Small Savings Schemes: The government has decided to keep the interest rates on small savings schemes like PPF, and NSC unchanged during the January-March quarter. This information was given by issuing a notification. Let us know about this in detail.
The government has kept the interest rates on various small savings schemes. These schemes also include PPF and NSC unchanged for the fourth consecutive time for the quarter starting from January 1, 2024.
A notification issued by the Finance Ministry on Tuesday said, "The interest rates on various small savings schemes for the fourth quarter of the financial year 2024-25, which begins on January 1, 2025, and ends on March 31, 2025, will remain unchanged from the rates notified for the third quarter of the financial year 2024-25 (October 1, 2024, to December 31, 2024)." According to the notification, deposits under Sukanya Samriddhi Yojana will get an interest rate of 8.2 percent, while the interest rate on three-year term deposits will remain at 7.1 percent.
It has also retained the interest rates of the most popular Public Provident Fund (PPF) and post office savings deposit schemes at 7.1 percent and 4 percent, respectively.
Kisan Vikas Patra will carry an interest rate of 7.5 percent and the investment will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remain at 7.7 percent for the period January-March 2025. Like the current quarter, the Monthly Income Scheme will give 7.4 percent interest to investors.
There has not been any change in interest rate in the last four quarters. In the previous financial year, it had made some changes in the schemes during the fourth quarter. The government notifies interest rates for small savings schemes operated by post offices and banks on a quarterly basis.
