Small Savings Schemes

Small savings rates unchanged for Oct-Dec quarter: PPF gives 7.1 % interest

Rates unchanged for Public Provident Fund, Senior Citizen Savings Scheme and Sukanya Samriddhi Yojana

Interest rates on small savings schemes remain unchanged for Q3FY25

The government on Monday left the interest rates on various small savings schemes including PPF and NSC unchanged for the third straight quarter beginning October 1, 2024. "The rates of interest on various small savings schemes for the third quarter of FY 2024-25, starting from October 1, 2024, and ending on December 31, 2024, shall remain unchanged from those notified for the second quarter (July 1, 2024, to September 30, 2024) of FY 2024-25," said a finance ministry notification. As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular Public Provident Fund (PPF) and post office savings deposits schemes too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings

New rules for Small Savings Schemes: PPF to SSY changes effective Oct 1

Government department publishes six new regulations that are applicable to investors in the National Savings Scheme, Public Provident Fund, Sukanya Samriddhi accounts

PPF to NSC: Check latest interest rates for popular small savings schemes

Rates are reviewed at the end of every quarter and are decided for the next accordingly

New income-tax regime: Small savings schemes likely to take a hit

Especially, PPF may see a sharp decline in inflows

Mahila Samman scheme may not be extended beyond March 2025; key details

Announced during the Union Budget 2023-24 by Finance Minister Nirmala Sitharaman, the small savings scheme aimed at encouraging savings among women

Indian Overseas Bank unveils upgradation facility on savings scheme

Public sector Indian Overseas Bank has unveiled a slew of upgradation facilities on savings scheme that offer enhanced features to its customers, a top official has said. The city-headquartered bank said the initiative was in the backdrop of simplifying banking processes by leveraging digital technology providing convenience. To be availed through the bank's website, the higher variants of savings account like "SB Max" and "SB HNI" offer a host of enhanced facilities and features which includes concessions and waiver of various charges providing more value and flexibility solutions to customers. "We are committed to offering a comprehensive self-service model that enhances our customers' banking experience. By leveraging the latest technology, we aim to simplify banking processes and introduce innovative solutions to enhance banking convenience," the bank's Managing Director and CEO Ajay Kumar Srivastava said in a statement on Sunday. In addition to this service, Indian Overseas Ba

Govt keeps small savings schemes' interest rates unchanged for Q2FY25

The government on Friday left the interest rates on various small savings schemes unchanged for the quarter beginning July 1, 2024. "The rates of interest on various small savings schemes for the second quarter of FY 2024-25, starting from July 1, 2024, and ending on September 30, 2024, shall remain unchanged from those notified for the first quarter (March 1, 2024, to June 30, 2024) of FY 2024-25," said a finance ministry notification. As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular PPF and post office savings deposits scheme too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the July-September 20

Interest rates on small savings schemes remain unchanged for April-June qtr

The government on Thursday said the interest rates on various small savings schemes will remain unchanged for the quarter beginning April 1, 2024. "The rates of interest on various small savings schemes for the first quarter of FY 2024-25, starting from April 1, 2024, and ending on June 30, 2024, shall remain unchanged from those notified for the fourth quarter (January 1, 2024, to March 31, 2024) of FY 2023-24," said a finance ministry notification. As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular PPF and post office savings deposits scheme too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the ...

Post office deposit to provident fund: All about small savings schemes

The government provides various options for citizens to plan their financial security

Sukanya Samriddhi scheme: Key features of saving plan for girl child

It offers attractive tax benefits and incentives to help secure your daughter's finances

Interest rates on small savings schemes remain unchanged for Q1FY25

The government on Friday left the interest rates unchanged on various small savings schemes for the first quarter of the next fiscal, beginning April 1, 2024. A notification in this regard has been issued by the finance ministry. "The rates of interest on various small savings schemes for the first quarter of FY 2024-25, starting from April 1, 2024, and ending on June 30, 2024, shall remain unchanged from those notified for the fourth quarter (January 1, 2024, to March 31, 2024) of FY 2023-24," the notification said. The deposit under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular PPF and savings deposits too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remai

Govt raises Sukanya Samriddhi, 3-yr term deposit interest rates by 20 bps

The government on Friday raised the interest rates on Sukanya Samriddhi scheme by 20 basis points and three-year term deposit scheme by 10 basis points for the January-March quarter, while retaining the rates for all other small savings schemes. According to a finance ministry circular, the deposit under Sukanya Samriddhi scheme would attract an interest rate of 8.2 per cent from the existing 8 per cent, while the 3-year term deposit would become 7.1 per cent from the current 7 per cent. However, the interest rates for popular PPF and savings deposits have been retained at 7.1 per cent and 4 per cent, respectively. The rates were the same during the December quarter. The interest rate on the Kisan Vikas Patra is 7.5 per cent and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) remained unchanged at 7.7 per cent for January 1 to March 31, 2024, period. There is no increase in interest rate for the Monthly Income Scheme, and thi

Now, senior citizens can enjoy high and guaranteed returns for long term

Since there are penalties for premature withdrawal, take liquidity needs into account

Govt relaxes norms for small savings schemes: Check details here

The Senior Citizen's Savings Scheme now allows three months to open an account, up from the current one month. Additionally, changes have been made to the premature closure rules for PPF accounts

Govt relaxes norms for various small savings schemes including PPF

The government has relaxed the norms for various small savings schemes, including the Public Provident Fund (PPF) and Senior Citizen's Savings Scheme. For the Senior Citizen's Savings Scheme, the new norms provide three months to open an account against one month's time at present. As per the gazette notification dated November 9, an individual can open an account under the Senior Citizen's Savings Scheme within three months from the date of receipt of the retirement benefits and proof of the date of disbursal of such retirement benefits. The deposit in such an account will earn interest at the rate applicable to the scheme on the date of maturity or the date of extended maturity, the notification said. In the case of the Public Provident Fund, the notification has made some changes with regard to the premature closure of accounts. This scheme may be called the Public Provident Fund (Amendment) Scheme, 2023, the notification said. According to the notification, some changes have

Govt hikes interest rate on 5-year recurring deposit scheme to 6.7%

Small savings schemes are government-backed investment options that offer guaranteed returns. The interest rates on small savings schemes are reviewed every quarter

Small saving schemes: Highest interest rate is 8.2 per cent. Details here

If you are investing for specific long-term goals, such as your children's education or marriage, small savings schemes may be the ideal option. Fixed deposits are better suited for short-term goals

Net collections under small savings schemes dip for first time in 11 years

The top 5 states with the highest net collections in FY23 were West Bengal, Maharashtra, Uttar Pradesh, Tamil Nadu, and Karnataka

Govt raises rates on select small savings schemes for July-Sept quarter

Small savings rate for the five-year recurring deposit was raised by 30 bps to 6.5 per cent