Govt hikes interest rate to 6.7 per cent on five-year recurring deposit, retains rate on other small savings schemes : The Tribune India

Join Whatsapp Channel

Govt hikes interest rate to 6.7 per cent on five-year recurring deposit, retains rate on other small savings schemes

Senior citizens savings scheme will fetch an interest rate of 8.2 per cent

Govt hikes interest rate to 6.7 per cent on five-year recurring deposit, retains rate on other small savings schemes

Photo used for representational purpose only. iStock



PTI

New Delhi, September 29

The government on Friday raised the interest rate on five-year recurring deposit scheme to 6.7 per cent from 6.5 per cent for the December quarter and retained the rates for all other small savings schemes.

According to a finance ministry circular, the interest rate on savings deposit has been retained at 4 per cent and on the one-year term deposit at 6.9 per cent.

The rates were the same during the September quarter.

The interest rate on both the two-year and three-year term deposits is 7 per cent while on the five-year term deposit, the rate is 7.5 per cent.

Senior citizens savings scheme will fetch an interest rate of 8.2 per cent.

On the monthly income account scheme, the interest rate is 7.4 per cent while it is 7.7 per cent on the National Savings Certificate and 7.1 per cent on the Public Provident Fund (PPF) scheme.

The interest rate on the Kisan Vikas Patra is 7.5 per cent and the investments will mature in 115 months.

As per the circular, the interest rate on the popular girl child scheme Sukanya Samriddhi Account has been retained at 8 per cent.

The government notifies the interest rate on small savings schemes, majorly operated by post offices, every quarter.  


Top News

US files charges against two Indians for attempt to kill Gurpatwant Singh Pannun

US files charges against two Indians for bid to kill Gurpatwant Pannun

One Indian arrested in Czech in June, second Indian a govern...

Allegations of plot to kill Sikh extremist on American soil: India forms probe panel

India to probe US concerns linking it to 'foiled murder plot' of Sikh extremist Gurpatwant Pannun

External Affairs Ministry spokesperson Arindam Bagchi says I...

Cabinet approves extension of PM Garib Kalyan Anna Yojana for 5 years

Cabinet approves extension of free foodgrain scheme for 5 years, over 81 crore people to benefit

Also clears Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiya...

Manipur’s oldest militant group UNLF signs peace pact with govt, Amit Shah says ‘historic milestone’

Manipur's oldest militant group UNLF signs peace pact with govt, Amit Shah says 'historic milestone'

Peace agreement with UNLF by Centre and Manipur government m...


Cities

View All