From April 1, Kisan Vikas Patra Interest Rate Cut To 6.9%, Maturity Period Extended

From April 1, investment in the Kisan Vikas Patra small savings scheme fetches a lower return of 6.9 per cent, compared to 7.9 per cent in the quarter ended March 31. Also, the Kisan Vikas Patra's maturity period stands reduced to 124 months from April 1, compared to the existing period of 113 months. This means that now, any investment in the certificate scheme - available at designated post office branches - doubles in size in a period of 124 months with effect from April 1.The government has lowered interest rates on most small savings schemes by 80-140 basis points (0.8-1.4 percentage point) for the first quarter of financial year 2020-21, according to an official statement. .While the interest rate for Kisan Vikas Patra has been lowered to 6.9 per cent, here are the new rates for other small savings schemes:.table.Calculation { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; } table.Calculation th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: left; } table.Calculation td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.Calculation th:last-child, table.Calculation td:last-child { border-right: 0; } @media (max-width: 480px) { table.Calculation { display: table; min-width: 280px; max-width: 100%; font-size: 14px; } table.Calculation th, table.Calculation td, table.Calculation th:nth-child(n+1), table.Calculation td:nth-child(n+1) { display: table-cell; line-height: normal; } table.Calculation th:last-child, table.Calculation td:last-child { border-right: 0; } } .scroll { overflow: auto; } . Instrument Interest Rate In January-March Interest Rate In April-June Compounding Frequency Savings Deposit 4% 4% Annually One-Year Time Deposit 6.9% 5.5% Quarterly Two-Year Time Deposit 6.9% 5.5% Quarterly Three-Year Time Deposit 6.9% 5.5% Quarterly Five-Year Time Deposit 7.7% 6.7% Quarterly Five-Year Recurring Deposit 7.2% 5.8% Quarterly Senior Citizen Savings Scheme (SCSS) 8.6% 7.4% Quarterly and paid Monthly Income Account 7.6% 6.6% Monthly and paid National Savings Certificate 7.9% 6.8% Annually Public Provident Fund 7.9% 7.1% Annually Sukanya Samriddhi Account 8.4% 7.6% Annually (Source: dea.gov.in) .Currently, the Ministry of Finance offers nine types of small saving schemes, including the 15-Year Public Provident Fund (PPF), the Senior Citizen Savings Scheme (SCSS) and the Sukanya Samriddhi scheme, and revises the interest rates applicable to them on a quarterly basis.

From April 1, Kisan Vikas Patra Interest Rate Cut To 6.9%, Maturity Period Extended

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