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Interest Rate On Small Savings Schemes Left Unchanged For April-June Qtr
The rates on small saving schemes are pegged with the yield on G-securities and for the quarter beginning April' 2019 the rates have been kept unchanged. In a tweet, the finance ministry said, "Rates of interest on various small savings schemes for the first quarter of the financial year 2019-20 starting from 1st April, 2019 and ending on 30th June, 2019 will remain unchanged and will continue to be same as notified for the fourth quarter of the financial year 2018-19".
The last rate hike on small savings schemes was made in the October-December quarter by 40 basis points.
So, for the April-June quarter of the FY 2020, the rates for the different savings schemes stand at:
| Savings scheme | Interest rate |
|---|---|
| Senior citizen savings scheme | 8.7% payable qtly |
| Sukanya Samriddhi account | 8.5% |
| PPF | 8% |
| 5-year NSC | 8% |
| 5-year MIS | 7.7% |
| Savings deposit | 4% |
| Post office deposit with maturity of 1, 2 and 3 years | 7% |
| 5-year deposit | 7.8% |
| 5-year RD scheme | 7.3% |
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