Highlights:
- Interest Rates of Small Savings Schemes for the July to September quarter
- Interest rates of Small Savings Schemes are updated every quarter
For the current quarter of July to September, the Government has kept the interest rates of the Small Savings Schemes unchanged, including of the Public Provident Fund (PPF), and the Senior Citizens’ Saving Scheme (SCSS).
The interest rate of such Small Savings Schemes are subject to revision by the government on a quarterly basis.
The Post office savings accounts will continue to fetch 4% interest on the investment.
Let us take a look at the interest rates of Small Savings Schemes for the quarter ending in September:
Public Provident Fund (PPF): It is one of the most popular taxes, long-term savings scheme, which matures in 15 years and currently will fetch you 7.1% in the July – September quarter.
National Savings Certificate (NSC): The National Savings Certificate will offer you 6.8% interest in this quarter if you decide to invest.
Senior Citizen Savings Scheme (SCSS): The senior citizens’ scheme will offer a 7.4% interest in the current July – September quarter.
Kisan Vikas Patra (KVP): The Kisan Vikas Patra will now mature or double itself in value in 124 months or 10.33 years while giving an interest rate of 6.9% if you decide to invest in the current quarter.
Sukanya Samriddhi Yojana (SSY): The popular girl child savings scheme called Sukanya Samriddhi Yojana account will earn you an interest rate of 7.6% in the quarter ending in September.
Post Office Term Deposits: Post office term deposits of 1-3 years will come with the interest rate of 5.5% also, the five-year term deposit will fetch you 6.7% on investments done in July to September quarter.
5-Year Post Office RD: This recurring deposit scheme offered by the post offices will fetch you an interest rate of 5.8% on fresh investments done in July to September quarter.
