Government slashed interest rates of small saving schemes
Posted on: 19/Mar/2016 10:16:50 AM - No. of views : (1909)
As a part of its February 16 decision to revise interest rates on small savings every quarter the Union Government on Friday slashed interest rates payable on small savings including PPF and Girl-child saving scheme, Sukanya Samriddhi Account.
Kisan Vikas Patra (KVP) will be cut to 7.8 per cent from 8.7 per cent.
The interest rate on Public Provident Fund (PPF) scheme will be cut to 8.1 per cent for the period April 1 to June 30, from 8.7 per cent, at present.
Girl-child saving scheme, Sukanya Samriddhi Account will see interest rate of 8.6 per cent as against 9.2 per cent.
Senior citizen savings scheme of five-year would earn 8.6 per cent interest compared with 9.3 per cent.
