Government increases interest on five-year RD, no change on other small savings schemes


The government has not changed the current interest rates on the rest of the small savings schemes (small saving schemes ).

The government announced on Friday to increase the interest rate from 6.5 per cent to 6.7 percent on the five-year RD scheme ( five-year recurring deposit scheme ) for the December quarter Have given. However the government has not changed the current interest rates on the rest of the small savings schemes (small saving schemes ). According to language news, according to the circular of the Ministry of Finance (Finance Ministry ), the current 4 per cent annual interest rate on the Savings Account has been allowed to remain the same as before.

No change in PPF rates

According to the news, there has been no change in interest rates for all other small savings schemes (small saving schemes) including PPF ( PPF ). According to the circular issued on Friday by the Ministry of Finance, 6.9 per cent interest on one-year fixed deposits will continue to be received as before. Interest on two-year and three-year fixed deposits is 7 per cent while on five-year fixed deposits is 7.5 per cent .

According to the circular, the interest rate on deposits in the Popular Sukanya Samriddhi account linked to daughters has been retained at 8 per cent. The government notifies the interest rate every quarter on small savings schemes mainly run by post offices.

Know these schemes’ Current interest rates

Senior Citizen Savings Scheme ( SCSS ) will continue to receive 8.2 per cent interest. Monthly income account ( MIS) interest on the plan is 7.4 per cent while it is 7.7 per cent on the National Savings Certificate ( NSC) and 7.1 per cent on the Public Provident Fund ( PPF) plan. The interest rate on the Farmer Development Paper ( KVP) is 7.5 per cent and will be a mecher in 115 months.

A small amount gets the opportunity to invest

It is safe to invest in government small savings schemes (small saving schemes). Investments can also be started with extremely low amounts ( minimum Rs 100 ). The security of the amount invested in these investment options is guaranteed. There is a large number of investors nationwide for these small savings schemes offered through the post office.

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