New Delhi: The government offers many investment options under the Small Savings Schemes, which include PPF to NSC, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme, and others.
Despite this, the RBI has been maintaining the repo rate stable during the recently held monetary policy meeting. However, the inflation rate is still above the target set by the RBI. Considering the developments, the Government made changes in the interest rates of many government schemes.
According to media reports, the government is again set to change the interest rate of the Small Savings Scheme. The interest on small savings schemes can be revised on the last day of September i.e. 29th and 30th September.
Last revised in June
The interest on government schemes under the Small Savings Scheme was last revised on June 30, 2023. Usually, the government reviews interest rates on small saving schemes every quarter. It has been said in media reports that the three-month period is ending at the end of September, due to which the government will once again make changes by September 30.
The government on June 30 increased the Interest Rate for small savings schemes. In the last revision, the government increased the interest rates for one-year and two-year post office time deposits by 10 basis points. Now Depositors are getting interest at 6.9 percent and 7 percent respectively. The interest rate on RD was also hiked by 30 bps. Depositors are getting a 6.5 percent interest rate on it.
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