INSUBCONTINENT EXCLUSIVE:
Investment in nine small savings schemes earns interest at rate of 4-8.7%The government has revised interest rates applicable to select
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
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.
