The Government has raised interest rate on small saving schemes such as Public Provident Fund (PPF), National Savings Certificates (NSC) and Post Office Deposit Scheme. The Government has raised interest rate on these schemes between 30 and 40 basis points following the increase in interest rates by the Reserve Bank Of India. PPF and NSC will now offer interest rate of 8% while Senior Citizens Savings Scheme, which has a tenure of five years, will now yield 8.7%. The interest rate on Kisan Vikas Patra and Sukanya Samrudhii Yojana has been raised by 0.4% each.
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