Small savings schemes: Govt keeps interest rates unchanged for Apr-June quarter on NSC, PPF, KVP

The government has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the April-June quarter

Press Trust of India March 29, 2019 16:48:05 IST
Small savings schemes: Govt keeps interest rates unchanged for Apr-June quarter on NSC, PPF, KVP
  • Interest rates for small savings schemes are notified on a quarterly basis

  • Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 8 percent

  • Kisan Vikas Patra (KVP) will give a yield of 7.7 percent and mature in 112 months

New Delhi: The government has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the April-June quarter.

Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 8 percent, while Kisan Vikas Patra (KVP) will give a yield of 7.7 percent and mature in 112 months.

Interest rates for small savings schemes are notified on a quarterly basis.

Small savings schemes Govt keeps interest rates unchanged for AprJune quarter on NSC PPF KVP

Rupee. Representational image. Reuters

"The rates of interest on various small savings schemes for the first quarter of the financial year 2019-20 starting 1 April, 2019, and ending on 30 June, 2019, shall remain unchanged from those notified for the fourth quarter of the financial year 2018-19," the finance ministry said in a notification issued Friday.

The interest rate for the five-year Senior Citizens Savings Scheme has been retained at 8.7 percent. The interest on the senior citizens' scheme is paid quarterly. Interest on savings deposits has been retained at 4 percent annually.

The girl child savings scheme Sukanya Samriddhi Yojana account will offer 8.5 percent rate during the first quarter of the next fiscal.

Term deposits of 1-5 years will fetch interest rate in the range of 7-7.8 percent, to be paid quarterly, while the five-year recurring deposit is pegged at 7.3 percent.

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