Interest Rates For PPF, Sukanya Samriddhi, Other Small Saving Schemes Remains Unchanged
The central government has decided to maintain the interest rates for popular small saving schemes, including PPF and Sukanya Samriddhi Yojana, for the fourth quarter of FY2024-25.
The central government has maintained the status quo on the interest rate for all small saving schemes, leaving them unchanged for the January-March quarter, according to an official notification issued on Tuesday.
For deposits made under the Sukanya Samriddhi Yojana, the interest rate has been retained at 8.2%, whereas savings under the Public Provident Fund will continue to draw interest at the rate of 7.1%.
"The rates of interest on various small savings schemes for the fourth quarter of FY 2024-25, starting from Jan. 1, 2024, and ending on March 31, 2024, shall remain unchanged from those notified for the third quarter (Sept. 1, 2024, to Dec. 31, 2024) of FY 2024-25," the Department of Economic Affairs said.
Notably, the Centre has left the interest rate for small saving schemes unchanged throughout fiscal 2025.
The decision on interest rates assumes significance as the schemes, which include the Sukanya Samriddhi Yojana, Post Office Savings Scheme, Public Provident Fund, and National Savings Certificate, among others, serve as key savings instruments for scores among the middle and lower-middle class.
Here's a look at the existing interest rates offered on the various small savings schemes:
Sukanya Samriddhi Scheme: Deposits will continue to 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 is retained at 7.1%.
Post Office Savings Scheme: The interest rate remains as 4%.
Kisan Vikas Patra: The interest rate continues to be 7.5%, and the investments will mature in 115 months.
Post Office Monthly Income Scheme: The interest rate is retained at 7.4%.
National Savings Certificate: The interest rate retained at 7.7%.
Senior Citizen Savings Scheme: The interest rate remains the same at 8.2%.
The interest rate on small savings scheme are reviewed at the end of every quarter by the Department of Economic Affairs. The rates were last changed in the fourth quarter of fiscal 2024. Since then, they have been left unchanged.
