Central government has increased the interest on investment, know how much interest rate will be available on PPF, Sukanya Samriddhi Yojana, NSC

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Latest Small Savings Interest Rate: The Central Government has recently announced its interest rate on small savings schemes for the October-December quarter. This includes five years RD (Recurring Deposit) has increased the interest rate from 6.5 percent to 6.7 percent. However, at present the Central Government has not made any change in the interest rates on investments made in savings of all other small savings schemes including PPF, KVP, NSC, SCSS, Sukanya Samriddhi Yojana, Savings Account and Term Plan. The Finance Ministry has informed that 4 percent interest on savings deposits and 6.9 percent interest on one year fixed deposits will continue to be available as before. The ministry has said that investors will now get seven percent interest on three-year fixed deposits. Whereas, those who invest for five years will be given 7.5 percent interest. The government has also not made any change in the interest rates on Senior Citizen Savings Scheme. The interest rate on this is same as before, 8.2 percent. Let us know how much interest the government is giving on which savings scheme at present.

ppf

PPF or Public Provident Fund (Public Provident Fund) is one of the quite popular savings schemes. This investment plan is an excellent medium to make financial investments for personal and social security. The main objective of PPF is to ensure personal and economic security. Under this, individual investors invest which ensures financial security and investment returns. PPF is designed for Indian citizens and an individual can invest in it through a Hindi Sangh, a branch bank, an Indian Post Office, or a financial institution. The maximum limit for investment in PPF per financial year is fixed, which is currently Rs 1.5 lakh. The PPF account continues for a maximum of 15 years, and the investor can keep it growing or exchange it. At present the government is giving 7.1 percent interest on this savings scheme.

Kisan Vikas Patra

Kisan Vikas Patra (Farmer Vikas Patra) is a type of fixed savings plan. It provides financial security to investors and a safe and government recognized form of investment. Kisan Vikas Patra can be purchased by Indian citizens, Indian citizens having criminal use or existence. There is no limit on the minimum investment amount for investing in this. Kisan Vikas Patra is issued for 124 months (10 years). Income tax relief is available on its interest. At present 7.5 percent interest is available in this scheme.

National Savings Certificate

National Savings Certificate is very popular for investment among the common people. At present this is the highest interest paying small savings scheme. National Savings Certificate is for those individuals who want to make safe and secure investments. Any Indian citizen can buy it. There is no minimum investment amount and no maximum limit, but a minimum investment amount has been prescribed for it. National Savings Certificate is issued for 5 years. Tax benefit is also available on investment in this. At present 7.7 percent interest is given on it.

Senior Citizen Saving Scheme

Senior Citizen Saving Scheme (Senior Citizens Savings Scheme, SCSS) is a financial scheme introduced by the Government of India. It has been specifically designed for senior citizens to provide them the opportunity to invest comfortably and safely. In this the age of the investor should be more than 60 years. Whereas, age relaxation of two years is given for those retired from the army. At present the interest rate on it is 8.2 percent. The government has not made any changes in its interest rates.

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana has been started by the Central Government to make daughters self-reliant. This scheme has been brought by the government under the Beti Bachao, Beti Padhao campaign. Investment in this is completely safe. At the same time, by investing in it, on maturity the investor will get three times more amount than his investment. The amount of interest received by the post office has been increased to eight percent. Sukanya Samriddhi Yojana has maturity in 21 years. Investing in this currently gives eight percent interest.

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