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Small Savings Scheme Interest Rate Hike
There is great news for those who invest in small savings schemes. The government has made a big announcement for those who invest in these schemes. New interest rates of small savings schemes. have been announced for the third quarter (October-December). Let's know the latest update.
Small Saving Scheme:
There is big news for those who invest in small schemes like Sukanya Samriddhi Yojana. FD, and Kisan Vikas Patra. The central government announced the new interest rates. of the small saving scheme for the third quarter. (October-December) on Thursday. Under this, the government has increased the interest rate on small savings. schemes by up to 30 basis points for the quarter starting October 1. After this announcement. the 3-year fixed deposit in post offices has increased to 5.8 percent from the current 5.5 percent.
Government hikes interest rates
Under this announcement. the government has increased the interest rate from 7.4% to 7.6% for the senior citizen savings schemes. from 6.9% to 7% for Kisan Vikas Patra, and also for fixed deposits of two and three years. Not only this but there has also been a change in the tenure of Kisan Vikas Patra. Let us tell you that now the maturity of KVP with a 7 percent interest rate has been increased to 123 months.
There was no change in these plans.
But, investors of savings deposits. 1-year, 5-year FDs, National Savings Certificate (NCS). Sukanya Samriddhi Yojana. And Public Provident Fund (PPF) has suffered a major setback. As there has been no change in the interest rates on these schemes. Investors of these schemes will continue to get the same interest rates as before. Yet, the RBI
RBI meeting tomorrow
Any announcement in such schemes used to happen after the RBI meeting. But this time the government announced it a day in advance. Actually, the MPC meeting of the Reserve Bank of India. started yesterday September 28 and will end on September 30. In such a situation, it is expected that the policy rates can be revised tomorrow.