new Delhi. The Finance Ministry has announced the rate of interest on Small Saving Schemes for the October to December quarter. The rate of interest on Public Provident Fund (PPF), National Savings Letter (NSC), Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS) and Sukanya Samriddhi Yojana will remain the same during the October to December quarter as in July. Has been during the September quarter. The Department of Economic Affairs, which comes under the purview of the Ministry of Finance, has given information about this.
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Currently, the rate of interest on all these small savings schemes is as follows
Sukanya Samriddhi Yojana – 7.6 percent
Public Provident Fund – 7.1 percent
Kisan Vikas Patra – 6.9 percent
National Savings Letter – 6.8 percent
Monthly Income Plan – 6.6 percent
Senior Citizen Savings Scheme – 7.4 percent
The government has drastically reduced the rate of interest on all these small savings schemes from the beginning of the financial year 2020-21. Till March this year, PPF, NSC used to get 7.9 percent interest but now it has been cut drastically. Similarly, till March, 8.4 percent interest was declared on Sukanya Samriddhi Yojana, which has now come down to only 7.6 percent and the senior citizen savings scheme was given the highest 8.6 percent interest till March, which has now been reduced to just 7.4 percent. Earlier, the monthly income scheme was also given 7.6 percent interest, but now it has also been reduced to 6.6 percent.
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