NSC and PPF interest rates remain unchanged
Posted on: 30/Mar/2019 11:09:15 AM
There is no change in rate of interest for small savings schemes such as NSC and PPF for the financial quarter between April and June.
The rate of interest for Public Provident Fund (PPF) and the National Savings Certificate (NSC) shall remain the same as 8 percent. Considering the Kisan Vikas Patra (KVP), the rate of interest will be 7.7 percent. This comes with maturity period of 112 months.
As per quarterly basis, the small savings rate of interest will be notified. In the notification issued by the Finance Ministry, it is clearly stated that the small savings scheme rate of interest pertaining to the 1st April 2019 to 30th June 2019 which is the first quarter of 2019-20 financial year shall continue to remain the same as fix during the final quarter of 2018-19 financial year.
As far as the rate of interest for the 5-year savings scheme for the senior citizens is concerned, it is kept at 8.7 percent. This imposes quarterly rate of interest. The annual rate of interest towards savings deposits will remain as 4 percent.
Coming on to Sukanya Samriddhi Yojana which is an exclusive savings scheme for girl children, the rate of interest will be 8.5 percent for the first quarter of 2019-20 financial year.
For term deposits of the period range 1 to 5 years, the rate of interest will be 7 to 7.8 percent. This is to be imposed in quarterly basis. And the 5 years RD (Recurring Deposit) comes with 7.3 percent as its rate of interest.
