Big news for those investing in PPF, NSC Sukanya, today will decide on interest rates

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Small saving schemes like PPF, NSC, Sukanya are going to be decided on Wednesday. Earlier, interest rates were kept constant in the July-August-September quarter. Let’s know what will happen this time?



new Delhi. The Finance Ministry is to decide on the interest rates of Small Saving Schemes on 30 September 2020. According to media reports, interest rates on the small savings scheme can be reduced during the October-December quarter. It has been told in the news that the interest rate has been reduced recently by the RBI. At the same time, the bond yield is at lower levels. In such a situation, the possibility of reducing interest rates is being expressed.

Also Read: Possibility of taking decision in 2-3 days on interest charged by banks: Center informs SC

From 2016, the central government reviews the small savings scheme on a quarterly basis and decides the interest rates. At the same time, earlier interest rates were changed on an annual basis.

PPF Interest Rates – In the April-June 2020 quarter, the government reduced the rate of interest on PPF to 0.8 percent from 0.8 percent, ie it was getting interest at the rate of 7.9 percent in the January-March 2020 quarter. At the same time, interest rates are 7.1 percent during the current quarter i.e. July-August-September.

Apart from this, people are getting interest at the rate of 7.40 percent on the investment made in Senior Citizen Saving Scheme, besides 6.6 percent interest on Monthly Income Scheme (MIS). The interest rate on the NSC-National Savings Certificate is 6.8 percent. KVP-Kisan Vikas Patra is getting interest at the rate of 6.9 percent. The interest rates on Sukanya are 7.6 percent.



The government’s interest rate on Public Provident Fund (PPF) and Sukanya Samriddhi Yojana varies from government to government, and is considered applicable accordingly. But if you invest in time deposit, post office recurring deposit, post office monthly income scheme, National Savings Certificate (NSC) and Kisan Patra (KVP), then the interest rate at that time will continue to be available throughout the plan period.

The post Big news for those investing in PPF, NSC Sukanya, today will decide on interest rates appeared first on informalnewz.



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