Interest rates for popular small saving schemes remain unchanged

The government has kept the interest rates for popular small savings schemes like national saving certificate, public provident fund (PPF), Kisan Vikas Patra and Sukanya Samriddhi Yojana, unchanged for the next three months, i.e from July 1 till September 30.

According to a Finance Ministry notification, only the interest rate of a one-year time deposit has been hiked to 6.9 per cent from 6.8 per cent.

Also, the interest rates for 2 years time deposit scheme have been hiked from 6.9 per cent to 7 per cent, while for a five-year recurring deposit, the interest rate has been increased from 6.2 per cent to 6.5 per cent.

However, the rates for PPF (7.1 per cent), national saving certificate (7.7 per cent), Kisan Vikas Patra (7.5 per cent), Sukanya Samriddhi Yojana (8 per cent), monthly income scheme (7.4 per cent) and senior citizen saving scheme (8.2 per cent) have been kept unchanged for the next three months.