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The interest rates for small savings down from today (1st April)
Posted on: 01/Apr/2016 3:00:05 PM
The interest ratio for small savings is being reduced with effect from today (Friday, 1st April),
The interest for PPF, Kisan Vikas Bonds, and Senior Citizens saving scheme are all reduced from today.
The interest reduction is to the maximum extent of 1.3 percent.
For the quarter from 1st April till 30th June, the interest rate for PPF has been fixed at 8,1 percent. Earlier, this was 8.7 percent.
The interest rate for Kisan Vikas Bond has been reduced from 8.7 percent to 7.8 percent.
The interest rate for the 5-year deposit scheme for Senior Citizens is reduced from 9.2 percent to 8.6 percent.
The interest rate for the Sukanya Samrithi (for girl children) scheme has been reduced from 9.2 percent to 8.6 percent.
Earlier practice was to revise the interest rates once a year. Now, it being revised every quarter year on the basis of government loan bonds.
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