Interest Rate On Small Savings Scheme Kept Unchanged For Oct-Dec Qtr

For the October-December quarter, the government has kept the rates unchanged for small savings schemes including National Saving Schemes (NSC), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP).

The department of economic affairs said that the rates have been held steady after the approval of Finance Minister. There are views that savings should be promoted and any cut here will effect such an exercise. Also, the assembly elections in Haryana and Maharashtra are just around the corner so that also promoted the centre to keep the rates steady.

1 Year Time Deposit - 6.9%
2 Year Time Deposit - 6.9%
3 Year Time Deposit - 6.9%
5 Year Time Deposit - 7.7%
5 Year Recurring Deposit - 7.2%
5 Year Se. Citizen Savings Scheme- 8.6%
5 Year Monthly Income Account - 7.6%
5 Year National Saving Certificate -7.9%
Public Provident Fund - 7.9%
Kisan Vikas Patra 7.6(Maturity in 113 months)
Sukanaya Samridhi Scheme 8.4%

The rates have been kept the same despite a reduction in 10-year government bond yield which as of September has been lowered down to 6.52%.

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