New Delhi: The government has announced and kept unchanged the respective interest rates of post office small saving schemes, including Public Provident Fund (PPF), Sukanya Samridhi Account, National Savings Certificate (NSC) and Senior Citizens Saving Scheme for the October-December quarter.
For the said quarter, both PPF and NSC will continue to fetch 7.9% interest rate.
Meanwhile, Sukanya Samriddhi Account, which is a scheme for the girl child, and Senior Citizens Savings Scheme continue to fetch higher interest rates than other small saving schemes. While the former will continue to fetch 8.4%, the latter will fetch 8.6%.
In a statement, the Finance Ministry said, “On the basis of the government’s decision, interest rates for small savings schemes are notified on a quarterly basis since 1 April 2016. Accordingly, the rates of interest of various small savings schemes for the third quarter of the financial year 2019-20 starting from 1 October 2019 and ending on 31 December 2019 shall remain unchanged from those notified for the second quarter (1st July 2019 to 30 September 2019) of the financial year 2019-20.”
Kisan Vikas Patra (KVP), another small savings scheme, will continue to fetch 7.6% with a maturity of 113 months, while the Post Office Monthly Income Scheme (MIS), too, will continue to fetch 7.6%.