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Government increased the interest rate of these small savings schemes, interest will increase by 0.30 percent, see details here

Interest Rate on Small Savings Scheme: The government has increased the interest rates of some small savings schemes for the third quarter of the financial year 2022-23.

Interest Rate on Small Savings Scheme: Giving good news on Thursday, the government has increased the interest rates of Small Savings Schemes. Now people will get up to 0.30 percent more interest on these schemes. With these new changes, people will get interest up to 5.8 percent on three-year fixed deposits as against the current 5.5 percent. In the third quarter of the current financial year, the government has increased these schemes by up to 0.30 percent. Along with this, people will also get more interest in Kisan Vikas Patra and Senior Citizen Savings Scheme than before.

Interest rates of these schemes also increased

According to a notification of the Finance Ministry, people in the Senior Citizen Savings Scheme will get 7.6 per cent interest during the October-December period with an increase of 20 basis points instead of 7.4 per cent. On the other hand, in Kisan Vikas Patra, people will now get 7 percent interest instead of 6.9 percent.

Read Also: Important News! Interest rates on some small savings schemes hiked. Find new rates here

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.com
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