Interest Rates On Small Savings Schemes To Remain Unchanged For Third Quarter

The Department of Economic Affairs has announced that the interest rates on the various small savings schemes including PPF and Sukanya Samriddhi will remain unchanged for the third quarter beginning October 1. The government has maintained status quo on the interest rates for these schemes for the last three quarters.

"The rates of interest on various small savings schemes for the third quarter of FY 2024-25, starting from October 1, 2024, and ending on December 31, 2024, shall remain unchanged from those notified for the second quarter (July 1, 2024, to September 30, 2024) of FY 2024-25," said the notification from the Ministry of Finance.

The rate for this quarter for Public Provident Fund stands at 7.1% till December. Schemes like Sukanya Samriddhi and Senior Citizen Savings Scheme have the highest rates among the small savings schemes with 8.2% per year.

The small savings schemes investors can invest in include Sukanya Samriddhi Yojana, Public Provident Fund, Senior Citizen Savings Scheme, National Savings Certificate, Post Office Time Deposits, Mahila Samman Savings Certificate, Post Office Monthly Income Scheme, among others.