Small Savings Schemes Interest Rates Revealed for July-Sept 2024: PPF, NSC, SCSC, Sukanya Scheme

Small Savings Schemes Interest Rates Revealed for July-Sept 2024

Small Savings Schemes Interest Rates Revealed: As we enter the month of July, interest rates for July-Sept are out Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Post Office Time Deposits (POTD), Sukanya Samriddhi Yojana (SSY), Post Office Monthly Income Scheme (POMIS) and Mahila Samman Savings Certificate.

These interest rates of small saving schemes have not been changed, it is the same as before.

In a statement, the Finance Minister said, “The rates of interest on various Small Savings Schemes for the second quarter of FY 2024-25 starting from July, 2024 and ending on 30′ September, 2024 shall remain unchanged from those notified for the first quarter (1St April, 2024 to 30th June, 2024) of FY 2024-25.”

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Let's take a look at the interest rates for July-Sept 2024 on small savings schemes such as PPF, NSC, SCSC, and Sukanya Scheme.

• Savings Deposit 4%
• 1 Year Time Deposit 6.9%
• 2-Year Time Deposit 7%
• 3 Year Time Deposit 7.1%
• 5 Year Time Deposit 7.5%
• 5 Year Recurring Deposit 6.7%
• Monthly Income Account Scheme 7.4%
• Senior Citizen Savings Scheme 8.2%
• Public Provident Fund Scheme 7.1%
• National Savings Certificate 7.7%
• Kisan Vikas Patra 7.5%
• Sukanya Samriddhi Account 8.2%

Every three months, the government sets the interest rates of Small Savings Schemes, and the interest rates are based on a calculation done by a group which is led by Shyamala Gopinath

As per the committee led by RBI's former governor, the interest rates should be 25 to 100 basis points and higher than the yields on government bonds.

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