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The central government has announced the interest rates for the Post Office Small Savings Scheme. The government has not made any changes to the interest rates of the IP Small Savings Scheme between October and December. This means that the interest rates that were set in the July-September quarter will remain the same for the next three months.
Small savings schemes include Public Provident Fund, Senior Citizens Savings Scheme, Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit Scheme (POTD) , Mahila Samman Savings Certificate and Post Office Monthly Income Scheme (POMIS). .
According to the press release issued by the Ministry of Finance, there have been no changes in the interest rates of small savings plans for the quarter between October 1, 2024 and December 31, 2024. This means that the Public Provident Fund (PPF) will continue to earn an interest rate of 7.1% from October to December 2024.
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These will be the interest rates of the small savings system in the third quarter of the year.
Greater interest in these two schemes.
At present, the highest income in small savings schemes is earned under Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme. In both plans, investors earn 8.2 percent interest. After that, 7.7 percent interest will be given on the National Savings Certificate. Investors get a return of 7.5 per cent on 5-year FD and Kisan Vikas Patra. Investors earn 7.4 percent on the monthly savings plan. Common people had high expectations of an increase in Public Provident Fund interest rates. But this time there has been no increase either. Investors will earn a return of 7.1 percent in the month of December.
When did interest rates last increase?
The government had announced an increase in interest rates on some small savings schemes for the quarter ending December 31, 2023. However, it is important to note that there was no change in interest rates for all schemes except RD . On the other hand, there has been no change in the Public Provident Fund interest rate since the April-June quarter of 2020. This means that it has been more than four years since there has been any change in the PPF interest rates.
