Interest rate on small savings raised after years!

With rising deposits in the bank, government has decided to increase the interest rate for the October- December quarter.

This includes NSC and PPF, hiking the rate by 0.4 %.

This decision was taken to encourage small savings and promoting welfare for senior citizens and girl child.

From October 1, the returns on Sukanya Samridhi Yojana will increase from 8.1% to 8.5%, Senior citizens savings scheme will be from 8.3% to 8.7%.