Interest on small saving schemes reduced by 0.1% from 1 July
The government has reduced the interested rates on small saving schemes such as National Savings Certificates (NSCs), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP) by 0.1%.
The PPF and NSCs will now provide 7.8% interest while KVPs will provide 7.5%. Earlier, PPF was offering interest at 7.9%, NSC at 7.9% and KVP at 7.6%.
Also, the Senior Citizen’s Savings Scheme and Sukanya Samriddhi Yojana will now provide 8.3% interest. Earlier, these were offering 8.4% interest.
Interest rates on small saving schemes are changed once in every three months. The last change happened in March when the rates for all the schemes were reduced by 0.1%.