You are here: Home » Economy & Policy » News
Business Standard

Small savings schemes: Govt keeps interest rates unchanged for Apr-June qtr

PPF and NSC will continue to carry an annual interest rate of 8 per cent, while Kisan Vikas Patra (KVP) will give a yield of 7.7 per cent and mature in 112 months

Press Trust of India  |  New Delhi 

Investments in small savings schemes

The government has kept the interest rates on small savings schemes, including and PPF, unchanged for the April-June quarter.

(PPF) and (NSC) will continue to carry an annual interest rate of 8 per cent, while (KVP) will give a yield of 7.7 per cent and mature in 112 months.

Interest rates for are notified on a quarterly basis.

"The rates of interest on various for the first quarter of the financial year 2019-20 starting April 1, 2019, and ending on June 30, 2019, shall remain unchanged from those notified for the fourth quarter of the financial year 2018-19," the said in a notification issued Friday.

The interest rate for the five-year Senior Citizens Savings Scheme has been retained at 8.7 per cent. The interest on the senior citizens' scheme is paid quarterly. Interest on savings deposits has been retained at 4 per cent annually.

The girl child savings scheme Sukanya Samriddhi Yojana account will offer 8.5 per cent rate during the first quarter of the next fiscal.

Term deposits of 1-5 years will fetch interest rate in the range of 7-7.8 per cent, to be paid quarterly, while the five-year recurring deposit is pegged at 7.3 per cent.

First Published: Fri, March 29 2019. 15:55 IST
RECOMMENDED FOR YOU