Centre decides to maintain status quo of return on small savings scheme
The Centre on Monday (September 30, 2024) decided to maintain the same rate of return on small savings schemes for the October to December quarter, marking the third successive quarter of status quo on their rates.
The interest rates on small savings schemes such as Public Provident Fund (PPF) and National Savings Certificate (NSC) are reset each quarter as per a formula linked to the yields on government securities of similar maturities.
The PPF rate has been frozen at 7.1% since April 2020. The return on Sukanya Samriddhi Account Scheme, which is tax-free like PPF, was raised to 8.2% earlier this year.
Published - September 30, 2024 06:27 pm IST
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