Small Saving Scheme Interest Rate: Public Provident Fund (PPF) investors are eagerly waiting for the increase in the interest rate of one of the most famous small savings account schemes. PPF interest rate was last revised during the April-June quarter of 2020
Small Saving Scheme Interest Rate : Public Provident Fund (PPF) investors are eagerly waiting for an increase in the interest rate of one of the most famous small savings account schemes. The PPF interest rate was last revised during the April-June quarter of 2020. Since then it has remained at 7.1% for four years. No change has been made in it.
During the same period, the central government increased the interest rates of the smallest savings schemes from 40 basis points (BPS) to 150 bps. Will the government finally make PPF investors happy this time? This is the amount of interest you are getting right now on PPF, SCSS, Sukanya Samriddhi Yojana, other small savings schemes for the July-September quarter of 2024.
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PPF Interest Rate in July-September Quarter: How is PPF interest rate calculated?
How is the PPF interest rate calculated? The interest rates of small savings schemes – PPF, SCSS, SSY and others depend on the market yield of 10-year government securities in the secondary market. PPF is the only scheme whose interest rates have not been increased. The government will decide the interest rates for July-September 2024. Now it remains to be seen whether the government will give a gift to the common people before the budget in July or not.
These are the interest rates on small savings schemes right now
1 year Post Office FD: 6.9 percent
2 year Post Office FD: 7%
3 year Post Office FD: 7 percent
5-year Post Office FD: 7.5 percent
5 year RD (Post Office RD): 6.7 percent (earlier the interest was 6.5 percent)
National Savings Certificate (NSC): 7.7 percent
Kisan Vikas Patra (KVP): 7.5 percent (will mature in 115 months)
PPF- 7.1 percent
Sukanya Samriddhi Account (Sukanya Samridhi Yojana): 8.0 percent
Senior Citizen Savings Scheme: 8.2 percent
Monthly Income Scheme (Post Office Monthly Scheme): 7.4 percent
Right now these are the interest rates on small savings schemes
Interest rates on small savings schemes range from 4% to 8.2% per annum. The government is paying interest on PPF at the rate of 7.1% per annum. This time it is expected that the government may increase the interest rates on PPF. Currently, interest on small savings schemes is almost equal to that of FD.
