Small Savings Schemes: The repo rate has been cut by 25 basis points by the Reserve Bank of India (RBI). After this, it is expected that banks can also cut interest rates on FD. Meanwhile, sources have indicated that the returns on small savings schemes may also decrease in the coming months. That is, the interest rates on small savings schemes may decrease.
Rates are fixed every quarter
Based on the recommendations of the Shyamala Gopinath Committee, interest rates are determined by the Finance Ministry on the Small Saving Scheme every quarter. The next review of the rates on small savings will be done by the Finance Ministry in late March for the quarter of April to June 2025. In the previous review, which was announced on 31 December, the Finance Ministry did not make any changes in the interest rate on these schemes for the quarter of January to March 2025. This was the fourth consecutive quarter when these rates were unchanged.
Where how much interest is getting now
Currently, 8.1% on PPF, 8.2% on Sukanya Samriddhi Account, 7.5% on Kisan Vikas Patra and 4% on Post Office Savings Deposes. There is no official statement on whether the Women’s Honor Savings Certificate Scheme will be continued on 31 March 2025. No such announcement has been made in the budget. This scheme declared in Union Budget 2023-2024 is a lump sum savings scheme with 7.5% returns. It is available for a maximum deposit facility of up to Rs 2 lakh for a period of two years. Millions of people of the country invest in small savings scheme.
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