Small Financial Savings Interest Fee: The government Did Not Grow The Hobby Rate Of PPF And sukanya Samriddhi Yojana.
The authorities have now not made any change within the interest charges of small savings schemes for the April-June sector (Q1FY26). That is the fifth consecutive sector whilst the government has saved the hobby rates of these schemes unchanged.
The Finance Ministry has given this information with the aid of issuing a notification nowadays, i.e., on march 28.
Consistent with the notification issued by way of the government, an 8.2% interest fee will be applicable on sukanya Samriddhi Yojana, at the same time as a 7.1% hobby rate will continue to be on three-year fixed deposits, which also became applicable within the modern-day quarter. The interest charges of the general public Provident Fund (PPF) and submit office financial savings account schemes have additionally been retained at 7.1% and 4%, respectively.
Hobby has been solid for five quarters.
The authorities finally accelerated the interest costs in december 2023. The interest rate of small financial savings schemes has remained solid for 5 quarters. There has been no alternate in hobby rates within the January-March (Q4FY25), October-December (Q3FY25), July-September (Q2FY25), and April-June (Q1FY25) quarters.
The government also keeps an eye fixed on the country's liquidity state of affairs and inflation earlier than choosing the interest rates of small savings schemes. The government opinions the hobby costs on small savings schemes along with PPF, NSC, and Kisan Vikas Patra every 3 months. Hobby prices on small savings schemes range from four% to 8.2%.
How much hobby is being given to what?
The authorities are paying a hobby at the charge of four percent on published workplace financial savings money owed. The submit office month-to-month earnings scheme is getting 7.4% interest, the put-up office time deposit (1 yr) is getting 6.9%, the put-up office time deposit (2 years) is getting 7%, the put-up office time deposit (3 years) is getting 7.1%, the published office time deposit (5 years) is getting 7.5%, the Kisan Vikas Patra (KVP) is getting 7.5%, the Public Provident Fund (PPF) is getting 7.1%, the sukanya Samriddhi Yojana is getting 8.2%, the national savings certificate is getting 7.7%, and the Senior Citizen Financial Savings Scheme (SCSS) is getting 8.2% interest. Small financial savings schemes are divided into 3 parts.
Postal Deposit: savings account, habitual deposit, time deposit, and month-to-month earnings scheme financial savings certificates: countrywide small savings certificate (NSC) and Kisan Vikas Patra (KVP)
Social protection schemes: sukanya Samriddhi Yojana, Public Provident Fund (PPF), and Senior Citizen Financial Savings Scheme (SCSS)
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