For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Interest Rates For Small Saving Schemes Kept Unchanged

|

In a release the finance ministry said "The rates of interest on various small savings scheme for the third quarter of the financial year 2017-18 starting October 1 shall remain unchanged from those notified for the second quarter of 2017-18".

This has come largely as per expectations wherein analyst did not expected steep cuts as it is consumers had been facing high pressure due to hike in fuel price. The interest rate offering on these instruments is based on the yield on government bonds.

Interest Rates For Small Saving Schemes Kept Unchanged
 

The rates on small saving schemes including Kisan Vikas Patra, PPF, NSC, Sukanya Samriddhi, Senior Citizen Saving scheme has now on being recalibrated on a quarterly basis from April last year.

This said for the quarter starting October 1, rates on PPF , Sukanya Samriddhi, 5-year Senior Citizens Savings Scheme will continue to fetch 7.8%, 8.3% and 8.3% respectively.

Kisan Vikas Patra with a maturity of 115 months will fetch 7.5%.

The steady rates on small saving schemes is likely to push bankers to revise rates on deposits downwards.

With inputs from PTI

Story first published: Saturday, September 30, 2017, 14:00 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more