Latest Public Provident Fund, Sukanya Samriddhi Yojana, NSC, KVP, SCSS, Small Savings interest rates: Check what's on offer from April 1
Small Savings Interest Rates 2019: Here's good news for investors who have put their money in small savings accounts like Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP) etc.
Small Savings Interest Rates 2019: Here's good news for investors who have put their money in small savings accounts like Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP) etc. The government has decided to keep the interest rates on small savings schemes unchanged for the first quarter of the new financial year starting on Monday (April-June quarter). As per the decision, the interest rates on Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to be 8 per cent each, while Kisan Vikas Patra (KVP) will give a return of 7.7 per cent and mature in 112 months.
In a tweet, the finance ministry said Friday, "Rates of Interest on various Small Savings Schemes for the First Quarter of the Financial Year 2019-20 starting from 1st April 2019 & ending on 30th June 2019 will remain unchanged & will continue to be same as notified for the Fourth Quarter of the Financial Year 2018-19."
The government notifies interest rates for small savings schemes on a quarterly basis. As the interest rates on small savings continue to remain the same as the last quarter, here's a look at what the account holders will continue to get:
The government has retained the interest rate for the five-year Senior Citizens Savings Scheme at 8.7 per cent. The interest rate on the senior citizens' scheme is paid quarterly. Similarly, the interest on savings deposits has been retained at 4 per cent annually.
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On Sukanya Samriddhi Yojana for the girl child, the interest would continue to be 8.5 per cent rate during the first quarter of the next fiscal. The Term deposits of 1-5 years will give you interest in the range of 7-7.8 per cent. This interest is to be paid quarterly, while the five-year recurring deposit is 7.3 per cent.
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