Small Saving Scheme: The government revises the interest rates of Small Saving Scheme every quarter. Till now, the government had already fixed the interest rates for the period from 1 January 2025 to 31 March 2025.
Now the government will fix the interest rates for Small Saving Scheme for the quarter from 1 April 2025 to 30 June 2025. The new financial year will start from 1 April. The government can announce the rates of Small Saving Scheme before 31 March. This time the investors of Small Saving Scheme are hoping that the government will give more interest on their small savings schemes.
These are small saving schemes
Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS) and National Savings Certificate (NSC) are some of the famous small savings schemes among the common people. Here we are telling you about the interest rates on the existing small savings schemes.
Interest rate available on small savings scheme for January-March 2025 quarter
Savings Deposit: 4%
1 Year Post Office Time Deposit: 6.9%
2 Year Post Office Time Deposit: 7.0%
3-year Post Office Time Deposit: 7.1%
5-year Post Office Time Deposit: 7.5%
5-year recurring deposit: 6.7%
National Savings Certificate (NSC): 7.7%
Kisan Vikas Patra (KVP): 7.5% (Maturity in 115 months)
Public Provident Fund (PPF): 7.1%
Sukanya Samriddhi Yojana (SSY): 8.2%
Senior Citizen Savings Scheme: 8.2%
Monthly Income Account: 7.4%
Interest rates of banks and post offices
Post offices offer 6.9% to 7.1% interest on fixed deposits for 1 to 3 years, while banks offer 6.5% to 8.05% interest. Senior citizens get the benefit of extra interest rate. Bandhan Bank offers maximum interest of 8.05%. However, after RBI reduced the repo rate, many banks have reduced interest rates on FDs. Small savings schemes are run by the government, which aim to encourage citizens to save regularly. They are divided into three categories. First, savings deposits, second, social security schemes and third, monthly income plans.
Savings Deposits: Like PPF and Post Office Savings.
Social security schemes: like Sukanya Samriddhi and Senior Citizen Savings Scheme.
Monthly Income Plan: Like Monthly Income Account.
