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

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 Apr-June 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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Updated Date: Mar 29, 2019 16:48:05 IST