The government on Tuesday kept the interest rates on various small savings schemes including PPF and NSC unchanged for the fourth quarter (beginning January 1, 2025 to March 31, 2025) starting January 1, 2025. This is the fourth consecutive quarter when the government has not made any change in the interest rates on these schemes. According to PTI news, the government notifies interest rates on small savings schemes operated by post offices and banks every quarter.
These are the interest rates
In a notification, the Finance Ministry said that the interest rate on deposits under Sukanya Samriddhi Yojana will be 8.2 percent, while the rate on three-year fixed deposits will remain at the prevailing 7.1 percent in the current quarter. The interest rates on the popular Public Provident Fund (PPF) and Post Office Savings Deposit schemes have also been kept intact at 7.1 per cent and 4 per cent respectively. The interest rate on Kisan Vikas Patra will be 7.5 percent and the investment will mature in 115 months.
interest rate on nsc
Furthermore, the interest rate on National Savings Certificate (NSC) will remain at 7.7 per cent for the period January-March 2025. Like the current quarter, the monthly income plan will earn 7.4 percent for investors. The government had last changed some plans for the fourth quarter of the last financial year. Guaranteed returns are available on these small savings schemes of the government. Investment can be started by depositing small amount every month in these schemes.
There is this relaxation in the rules
Under the new norms of the government, three months are given to open an account under the Senior Citizens Savings Scheme. An individual can open an account under the Senior Citizens Savings Scheme within three months from the date of receipt of retirement benefits. Interest is paid at the rate fixed for the scheme on the maturity date or extended maturity date. In the National Savings Fixed Deposit Scheme, if the amount deposited in an account with a tenure of five years is prematurely withdrawn after four years from the date of account opening, interest will be payable at the rate applicable to Post Office Savings Account.
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