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Government increased interest on five year RD, no change on other small savings schemes

The government has not made any change in the existing interest rates on other small savings schemes.

The government on Friday announced to increase the interest rate on the five-year recurring deposit scheme from the earlier 6.5 percent to 6.7 percent for the December quarter. However, the government has not made any change in the existing interest rates on other small saving schemes. According to the news of the language, according to the circular of the Finance Ministry, the existing 4 percent annual interest rate on savings account has been kept the same as before.

There is no change in PPF rates also

According to the news, there has been no change in the interest rates for all other small savings schemes including PPF. According to the circular issued by the Finance Ministry on Friday, 6.9 percent interest on one-year fixed deposits will continue to be available as before. The interest on two-year and three-year fixed deposits is 7 percent, while the interest on five-year fixed deposits is 7.5 percent.

According to the circular, the interest rate on deposits in the popular Sukanya Samriddhi Account of daughters has been maintained at 8 percent. The government notifies interest rates on small savings schemes operated mainly by post offices every quarter.

Know the current interest rates on these schemes

8.2 percent interest will continue to be available on Senior Citizens Savings Scheme (SCSS). The interest on Monthly Income Account (MIS) scheme is 7.4 per cent while on National Savings Certificate (NSC) it is 7.7 per cent and on Public Provident Fund (PPF) scheme it is 7.1 per cent. The interest rate on Kisan Vikas Patra (KVP) is 7.5 percent and it will mature in 115 months.

Opportunity to invest small amount

It is safe to invest in small saving schemes of the government. Investment can be started even with a very small amount (minimum Rs 100). The security of the amount invested on these investment options is guaranteed. These small savings schemes offered through post offices have a large number of investors across the country.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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