Small Saving Invest in PPF, SSY, then know how much return you will get in the October-December quarter : There is a relief news for those investing in various small savings schemes including Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY) and NSC. The government has not made any changes in the interest rate on various small savings schemes in the third quarter of the current financial year. This means that the rate at which you are getting returns now, at the same rate, you will get returns in the next quarter as well. According to a tweet by news agency ANI, Economic Affairs Secretary Tarun Bajaj has said that there has been no change in the rate of interest on Small Saving Schemes.
There is no change of interest rate for small saving schemes:
The government revises the interest rates of small savings schemes for the next quarter at the beginning of every quarter, based on the income from government bonds. The government also did not make any amendment in the interest rates during July to September. Earlier in the April to June quarter, the government revised the interest rates.
National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Time Deposit, Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS) and Sukanya Samriddhi Yojana (SSY) among those investing for safe and guaranteed returns. Such schemes are quite popular.
The interest rate on Public Provident Fund (PPF) remains at 7.1 per cent annually. Similarly, the rate of interest on Senior Citizen Savings Scheme is 7.4 percent. On one-year time deposit, you will get interest at the rate of 5.5 percent.
However, schemes like NSC, Kisan Vikas Patra, Time Deposit, Senior Citizen Savings Schemes have no effect on the change in interest rates on the existing investors as the rate of interest remains the same for the entire maturity period when investing in these schemes. . However, changes in interest rates have an impact on new investors.VIA: www.jagran.com
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