look news india
New Delhi, June 28 (HS). The central government has announced no change in interest rates for other small savings schemes including Public Provident Fund (PPF) in the second quarter of the financial year 2024-25. The government has kept the interest rates on small savings schemes unchanged for the second quarter starting from July 1, 2024.
In a notification issued on Friday, the Department of Economic Affairs, Ministry of Finance said that the interest rates on various small savings schemes for the second quarter (July 1 to September 30, 2024) of the current financial year 2024-25 will remain the same as the rates notified for the first quarter (March 1 to June 30, 2024).
According to the notification issued by the ministry, the interest rate on deposits under Sukanya Samriddhi Yojana will be 8.2 percent while the rate on three-year fixed deposits will be 7.1 percent. The interest rates of Public Provident Fund and Post Office Savings Deposit Scheme will also remain at 7.1 percent and 4 percent respectively. Similarly, the interest rate on Kisan Vikas Patra will be 7.5 percent and this investment will mature in 115 months.
According to the notification, the interest rate on National Savings Certificate (NSC) for the July-September quarter of the financial year 2024-25 will be 7.7 percent. In the second quarter, investors of Post Office Monthly Income Scheme will get 7.4 percent interest as before. It is worth noting that the central government notifies the interest rates for small savings schemes run by post offices and banks every quarter.
