Finance Ministry will take decision on interest rates!
The process of cutting interest rates has started all over the world. In the second week of october, the reserve bank of india is also going to take a decision on interest rates in the Monetary Policy Committee meeting. In such a situation, all eyes are on what decision the government takes at the end of this month regarding the interest rates of small savings schemes for the third quarter of the financial year 2024-25. Will investors investing in small savings schemes get relief or will they face trouble!
Decision on interest rates on september 30
The Department of Economic Affairs of the Ministry of Finance will announce the interest rates of post office deposit schemes including PPF, sukanya Samriddhi Yojana for the third quarter of the financial year 2024-25 from october to december on september 30, 2024. No change was made in the interest rates for the second quarter of the current financial year. There are high chances that the government will not make any change in the interest rates of small savings schemes even in the third quarter between 1 october 2024 and 31 december 2024 and it will be kept as it is. But after the start of the process of reducing interest rates by the RBI, there are chances that the government can also reduce the interest rates of small savings schemes.
8.2% interest on sukanya Samriddhi Yojana
Currently 8.2 percent interest is being given annually on sukanya Samriddhi Yojana. 4 percent interest is being given on post office savings deposit, 6.9 percent on 1 year term deposit, 7 percent on 2 year time deposit, 7.5 percent interest on 5 year deposit and 6.7 percent interest on 5 year recurring deposit. is being given. Currently, Senior Citizen Saving Scheme is getting 8.2% interest, National Saving Certificate is getting 7.7% interest and Kisan Vikas Patra is getting 7.5% interest. 7.1% interest is being given on 3-year term deposits
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