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Interest rates on small savings schemes remain unchanged for Q3FY25
Source: Business Standard
The government on Monday left the interest rates on various small savings schemes including PPF and NSC unchanged for the third straight quarter beginning October 1, 2024.
“The rates of interest on various small savings schemes for the third quarter of FY 2024-25, starting from October 1, 2024, and ending on December 31, 2024, shall remain unchanged from those notified for the second quarter (July 1, 2024, to September 30, 2024) of FY 2024-25,” said a finance ministry notification.
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As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent.
The interest rates for popular Public Provident Fund (PPF) and post office savings deposits schemes too have been retained at 7.1 per cent and 4 per cent, respectively.
The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months.
The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the July-September 2024 period.
Like the current quarter, the Monthly Income Scheme will earn 7.4 per cent for investors.
The interest rates have been left unchanged for the last three quarters. The government had last made changes in some schemes for the fourth quarter of the last fiscal.
The government notifies the interest rates on small savings schemes, majorally operated by post offices and banks, every quarter.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 30 2024 | 6:33 PM IST
