Small Saving Scheme Interest Rate : The central government has fixed the interest rates of small savings schemes.
The government on Friday did not change the interest rates on small savings schemes like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS) and Post Office Fixed Deposit for July-September 2024. Interest on all small savings schemes will be the same as before. This information was given by the Finance Ministry through a notification on Friday.
According to the notification of the Finance Ministry, the interest rates on small savings schemes for the second quarter of the Finance Ministry 2024-25, starting from July 1, 2024 and ending on September 30, 2024, will remain the same as the rates notified for the first quarter (April 1 to June 30, 2024). There will be no change in these.
Interest rates on the famous PPF and savings scheme are at 7.1 percent and 4 percent respectively. The interest rate on Kisan Vikas Patra has been retained at 7.5 percent and the investment will mature in 115 months. The interest rate on National Savings Certificate (NSC) will be 7.7 percent for the period from July 1 to September 30, 2024. Like the current quarter, the interest rate for the Monthly Income Scheme will remain at 7.4 percent interest for investors.
Interest rates on small savings schemes like PPF, post office savings and fixed deposits, NSC and SSY are reviewed at the end of every quarter. These rates are fixed for the next quarter. In the last review on March 31, 2024, the government has retained the interest rates on small savings schemes for the April-June 2024 quarter.
This interest will be available on Small Savings Scheme in July-September 2024
Savings account: 4 percent
1-year post office fixed deposit: 6.9 percent
2-year post office fixed deposit: 7.0 percent
3-year post office fixed deposit: 7.1 percent
5-year post office fixed deposit: 7.5 percent
5-year recurring deposit: 6.7 percent
National Savings Certificate (NSC): 7.7 percent
Kisan Vikas Patra: 7.5 percent (will mature in 115 months)
Public Provident Fund: 7.1 percent
Sukanya Samriddhi Account: 8.2 per cent
Senior Citizen Savings Scheme: 8.2 percent
Monthly Income Scheme: 7.4 percent.
Small savings schemes are divided into three categories savings schemes, social security schemes and monthly income schemes.
