Small Saving Schemes: The government has not given any concession on the interest on small savings schemes and the interest you get will remain the same. The Department of Economic Affairs, Ministry of Finance today announced the decision on interest rates for the third quarter of small savings schemes. There has been no change in the interest rates of small savings schemes even in the third quarter between October 1, 2024 and December 31, 2024.
There is no difference in the interest of PPF and Sukanya Samriddhi Yojana.
This means that there will be no difference in the interest rates of PPF i.e. Public Provident Fund and Sukanya Samriddhi Yojana and you will get interest at the old rates only. Let us tell you that there has been no change in the interest rate of PPF since the first quarter of the financial year 2020-21.
Know how much interest is being received in small savings schemes
4 percent on post office savings account
7.4 percent on Post Office Monthly Income Scheme
7.5 percent on Kisan Vikas Patra
7.1 percent on Public Provident Fund
8.2 percent on Sukanya Samriddhi Yojana
7.7 percent on National Savings Certificate
8.2 percent on Senior Citizen Saving Scheme
It is clear from this that the highest interest is on Sukanya Samriddhi Yojana at 8.2 percent and on Senior Citizen Saving Scheme it is also at 8.2 percent.
Finance Ministry took the decision today
The Finance Ministry has taken this decision today after reviewing the interest rates of small savings schemes like Kisan Vikas Patra (KVP), Public Provident Fund (PPF), National Savings Certificate (NSC) on 30 September 2024. Interest rates on small savings schemes range between 4 percent to 8.2 percent. At present the interest rate on Public Provident Fund (PPF) is 7.1 percent and Sukanya Samriddhi Yojana is 8.2 percent. Interest rates on small savings schemes including PPF, NSC and KVP are reviewed every three months. The government had earlier increased the interest rates in December 2023.
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