The Union government on Monday left the interest rates on various small savings schemes unchanged for the October–December quarter of the current financial year.
"The rates of interest on various small savings schemes for the second quarter of FY 2024-25, starting from Oct 1, 2024, and ending on Dec. 30, 2024, shall remain unchanged from those notified for the second quarter (July 1, 2024, to Sept 30, 2024) of FY 2024-25," the Ministry of Finance said in a notification.
Interest Rates Breakup
Sukanya Samriddhi Scheme: Deposits will attract an interest rate of 8.2%, while the rate on a three-year term deposit remains at 7.1%.
Public Provident Fund: The interest rate retained at 7.1%.
Post Office Savings Scheme: The interest rate is retained at 4%.
Kisan Vikas Patra: The interest rate will be 7.5%, and the investments will mature in 115 months.
National Savings Certificate: The interest rate retained at 7.7%.
Post Office Monthly Income Scheme: The interest rate retained at 7.4%.
Senior Citizen Savings Scheme: The interest rate retained at 8.2%.
The government updates the interest rates for small savings schemes, primarily managed by post offices and banks, on a quarterly basis. These schemes are backed by the central government, providing a sovereign guarantee.
The last time rates for certain schemes were revised was for the quarter ending Dec. 31, 2023.
(With inputs from PTI)
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