Small Savings Schemes: Interest rates for PPF, NSC, SSY unchanged yet again

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The government has decided to keep interest rates on various small savings schemes unchanged for the fourth consecutive quarter, effective January 1, 2025. This decision, announced by the Finance Ministry on Tuesday, means that rates will remain the same through the first quarter of 2025, continuing the trend established in previous months.

 

According to the official notification, the interest rates for the fourth quarter of FY 2024-25 will match those of the third quarter, which ran from October 1, 2024, to December 31, 2024.

 

• Under this announcement, the Public Provident Fund (PPF) and post office savings deposit schemes will retain their interest rates at 7.1% and 4%, respectively. 
• Additionally, the popular Sukanya Samriddhi Yojana, aimed at promoting the welfare of the girl child, will continue to offer an attractive interest rate of 8.2%. 
• The interest on a three-year term deposit will remain at 7.1%, consistent with the rates in place during the current quarter.
• The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months.
• The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the January-March 2025 period.
• Monthly Income Scheme will earn 7.4 per cent for investors.

 

The interest rates have been left unchanged for the last four quarters now. The government had last made changes in some schemes for the fourth quarter of the last fiscal. The government notifies the interest rates on small savings schemes, majorly operated by post offices and banks, every quarter.