Government withdraws the decision to reduce the interest rates of small savings schemes

The government has withdrawn the decision to reduce the interest rates of small savings schemes.

The government has withdrawn the decision to reduce the interest rates of small savings schemes.

The Finance Ministry’s tweet states, “The interest rates of small savings schemes will remain the same as the rates in the last quarter of this financial year.” The Ministry has also said that the order for reduction in interest rates was issued by mistake. It is being withdrawn.

In the April to June quarter of this year, the interest rates of the schemes will be like this

PPF                                          7.1 percent
Sukanya Samriddhi Yojana     7.6 percent
Kisan Vikas Patra                    6.9 percent
NSC                                        6.8 percent
Bank savings account               4 percent
Monthly Income Scheme       6.6 percent

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