Government Keeps Interest Rates Unchanged for Small Savings Schemes in Q2 2024-25
The Indian government has decided to keep the interest rates unchanged for various small savings schemes for the second quarter of the financial year 2024-25. This decision, announced by the Ministry of Finance, applies from July 1, 2024, to September 30, 2024.
Key Schemes and Their Interest Rates
Public Provident Fund (PPF): 7.1%
Senior Citizen Savings Scheme (SCSS): 8.2%
Sukanya Samriddhi Yojana: 8.2%
Other Schemes
National Savings Certificate (NSC): 7.7%
Post Office Monthly Income Scheme (PO-MIS): 7.4%
Kisan Vikas Patra (KVP): 7.5%
Fixed Deposits
Tenure | Interest Rate |
---|---|
1-Year Deposit | 6.9% |
2-Year Deposit | 7.0% |
3-Year Deposit | 7.1% |
5-Year Deposit | 7.5% |
Recurring Deposit
5-Year Recurring Deposit (RD): 6.7%