Investment in nine small savings schemes earns interest at rate of 4-8.7%The government has revised interest rates applicable to select small savings schemes.
Investment in time deposits of one-year, two-year and three-year maturity periods will fetch interest at rate of 7 per cent in quarter ending March 31, 2019, Ministry of Finance said in a statement.
In October-December period, government paid interest rates of 6.9 per cent, 7 per cent and 7.2 per cent on one-year, two-year and three-year time deposits respectively.
Interest rates applicable to all other small savings schemes, such as Public Provident Fund (PPF), Savings Deposit, Kisan Vikas Patra (KVP) and Sukanya Samriddhi, were kept unchanged, according to statement.Here are interest rates paid by government on small savings schemes in fourth quarter of current financial year (2018-19):Currently, government revises interest rates on small savings schemes on a quarterly basis.
The finance ministry had in September last year announced an increase of up to 0.4 per cent in interest rates applicable to small savings schemes for October-December quarter.Investment in nine small savings schemes earns interest at rate of 4-8.7 per cent.
The nine schemes are Savings Account, Five-Year Recurring Deposit, Time Deposit (TD), Monthly Income Scheme, Senior Citizen Savings Scheme (SCSS), Public Provident Fund (PPF), National Savings Certificates, KVP and Sukanya Samriddhi.