PPF Interest Rate: According to the notification issued by the Finance Ministry for the first quarter of the new financial year, the interest rates of small savings schemes have been announced. According to the notification, these rates will be applicable till June 30, 2024.
Small Saving Schemes Interest Rate: If you also invest in Small Saving Schemes run by the government, then this news is useful for you. The government announced on Thursday that there will be no change in the interest rates on various small savings schemes from the new financial year i.e. 1 April 2024. In the notification issued by the Finance Ministry, it was said that the rates will remain the same for the first quarter of the new financial year starting from April 1, 2024 and ending on June 30, 2024.
Notification will come into effect after three days
The interest rates in the first quarter of the new financial year will remain the same as they were for the fourth quarter of the financial year 2023-24 (1 January 2024 to 31 March 2024). According to the notification issued by the Finance Ministry, an interest rate of 8.2 percent will be available on the amount deposited under Sukanya Samriddhi Scheme. It will remain the same as before. Apart from this, the interest rate on three-year FD will remain at 7.1 percent as before.
Investment will mature in 115 months
Apart from this, the interest rates for PPF and Post Office Saving Scheme, the favorite of crores of investors, will also remain the same at 7.1 percent and 4 percent respectively. The interest rate on Kisan Vikas Patra has also been maintained at 7.5 percent. Investment in this government scheme will mature in 115 months. Apart from this, the interest rate on National Savings Certificate (NSC) for the April-June 2024 quarter will remain the same at 7.7 percent.
Like the current quarter, investors will get the benefit of 7.4 percent interest rate on Monthly Income Scheme. The interest rate on small savings schemes is notified by the government every quarter on the basis of review. These schemes are mainly operated by the post office.
