LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

How interest rates vary on Small savings schemes, SCSS; know here

The revision in interest rates does not affect old investments except for PPF and SSY.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
How interest rates vary on Small savings schemes, SCSS; know here
Representational photo: Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Sun, Feb 11, 2018
09:59 am
ZeeBiz WebDesk
RELATED NEWS
Jai Jawan, Investment Plan: Anil Singhvi celebrates Independence Day with CRPF jawans, answers their financial queries - DETAILS Jai Jawan, Investment Plan: Anil Singhvi celebrates Independence Day with CRPF jawans, answers their financial queries - DETAILS
Who moved my savings? The conundrum of declining savings post-demonetisation Who moved my savings? The conundrum of declining savings post-demonetisation
Govt amends Small Savings Act, retains all existing protections Govt amends Small Savings Act, retains all existing protections
Investments that can help in saving taxes Investments that can help in saving taxes
How will this Budget impact your financial plans? How will this Budget impact your financial plans?

'Disclaimer: This story is for informational purposes only and should not be taken as investment advice.'

Union Ministry of Finance has notified that interest rates for small savings schemes would be revised every quarter of the financial year.

Accordingly, the rates for January-March, 2018 have been notified in the last week of December 2017, and the same were cut for most of small savings schemes barring Senior Citizens Savings Scheme (SCSS), said PersonalFinanceplan report.

According to the report, the revision in interest rates does not affect old investments except for PPF and SSY.

It may be noted that changes in interest rates after opening the deposit does not affect rate of interest in the Senior Citizens Savings Scheme, but fresh investment will earn the interest as notified for the quarter.

Therefore, existing SCSS and time deposits will continue to earn the same rate of interest as contracted at time of opening such deposits. 

However, it would be affected if when your deposits are renewed or have to be rolled over.

For PPF and SSY, the notified interest rate is what you will earn on your entire PPF (or SSY) balance during the current quarter, therefore, the impact is immediate, PersonalFinanceplan added.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
savingsinvestorssmall savings schemesTax-savingRate of returnInterest RateSCSSPPFSukanya Samriddhi Yojana
RELATED NEWS
Jai Jawan, Investment Plan: Anil Singhvi celebrates Independence Day with CRPF jawans, answers their financial queries - DETAILS Jai Jawan, Investment Plan: Anil Singhvi celebrates Independence Day with CRPF jawans, answers their financial queries - DETAILS
Who moved my savings? The conundrum of declining savings post-demonetisation Who moved my savings? The conundrum of declining savings post-demonetisation
Govt amends Small Savings Act, retains all existing protections Govt amends Small Savings Act, retains all existing protections
Investments that can help in saving taxes Investments that can help in saving taxes
How will this Budget impact your financial plans? How will this Budget impact your financial plans?

LATEST NEWS

Patient dies after receiving AstraZeneca vax in S.Korea

PUBG New State: PUBG game developers preparing for 'exclusive' content | Check pre-register details, official trailer and more

In chat with Anil Singhvi, analyst Vikas Sethi picks Phillips Carbon, L and T Finance as top buys for big gains

Realme set to launch new budget 'C21' smartphone on March 5; here's all you need to know

NEET 2021 exam date latest news: Candidates check this big update

MCD by election 2021: FINAL RESULT of Delhi municipal bypolls! Full list of Kalyanpuri, Rohin-C, Trilokpuri, Shalimar Bagh North wards, seats - AAP vs BJP vs Congress

Yes Bank Share price I Anand Rathi maintains Sell rating with price target of Rs 14

MTAR Technologies IPO – Angel Broking recommends SUBSCRIBE to this public issue; last date 5th March, 2021

Insurance alert! Big decision by Modi government to facilitate resolution of complaints - All you need to know

WBPSC Exam 2021: Date for West Bengal Public Service Commission Exam 2021 postponed: Check latest news here!

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved