Before the budget, the government took a big decision on saving schemes like Sukanya Samriddhi, PPF

Small Savings Scheme: A big decision has been taken by the central government on Friday regarding the interest rate on all small savings schemes for the July-September quarter of the financial year 2025. In which, like the previous quarter, no change has been made in the interest rates of PPF, SCSS and Sukanya Samriddhi Yojana in the July-September quarter.

The interest rate of these schemes is decided every three months.

The central government decides the interest rate on small savings schemes like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Mahila Samman Savings Certificate, Senior Citizen Savings Scheme (SCSS) and National Savings Certificate (NSC) every three months.

According to a Finance Ministry notification, interest rates on small savings schemes will remain unchanged for the quarter from July 1, 2024, to September 30, 2024.

When was the interest rate last changed?

The interest rates were revised in December 2023 for the January-March quarter of FY 2024. In which the central government has increased the interest rate of 3-year time deposit for small savings schemes like Sukanya Samriddhi Yojana by 20bps for quarter-4. PPF rates remained unchanged for more than 3 years. It was last reduced from 7.9 per cent to 7.1 per cent in April-June 2020.

Interest on Post Office Savings Account

The interest rate for post office savings account will remain unchanged at 4% per annum. The interest rate for Senior Citizen Savings Scheme for the next quarter will be 8.2%, Sukanya Samriddhi Account interest rate will be 8.2%.

6.9% interest will be given on one year time deposit, 7.0% on two year time deposit, 7.1% on three year time deposit and 7.5% on five year time deposit. Apart from this, 6.7% interest is being given on recurring deposit (RD), 7.4% interest under Monthly Income Scheme, 7.7% interest under NSC and 7.5% interest under Kisan Vikas Patra.