New Delhi: The federal government on Wednesday saved the rates of interest on small financial savings schemes, together with PPF and NSC, unchanged for the October-December quarter amid moderating financial institution deposit charges.
Public Provident Fund (PPF) and Nationwide Financial savings Certificates (NSC) will proceed to hold an annual rate of interest of seven.1 per cent and 6.8 per cent, respectively.
Rates of interest for small financial savings schemes are notified by the Finance Ministry on a quarterly foundation.
There isn’t a change in small financial savings fee for the third quarter, Financial Affairs Secretary Tarun Bajaj stated whereas disclosing second half borrowing goal for the present fiscal.
Later, a finance ministry notification stated the charges of curiosity on varied small financial savings schemes for the third quarter of 2020-21 ending on December 31 shall stay unchanged from these notified for the second quarter (July-September).
Accordingly, the rate of interest for the five-year Senior Residents Financial savings Scheme has been retained at 7.4 per cent. The curiosity on the senior residents’ scheme is paid quarterly. Rate of interest on financial savings deposits has been retained at 4 per cent yearly.
The lady baby financial savings scheme Sukanya Samriddhi Yojana will provide 7.6 per cent fee throughout the third quarter of the present fiscal.
The annual rate of interest on Kisan Vikas Patra (KVP) has been retained at 6.9 per cent.
Time period deposits of 1-5 years will fetch an rate of interest within the vary of 5.5-6.7 per cent, to be paid quarterly, whereas the rate of interest on five-year recurring deposit is pegged at 5.8 per cent.
This story has been revealed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.