The government has announced its decision regarding the interest rates for small savings schemes, including PPF, Sukanya Samriddhi Yojana, and NSC. Notably, the government has opted not to make any changes to the interest rates of these schemes for the fourth quarter starting January 1, 2025. This marks the fourth consecutive quarter where the interest rates for these small savings schemes remain unchanged. Consequently, the current rates will continue for the last quarter of the financial year 2024-25. This information was shared by the Department of Economic Affairs under the Ministry of Finance.
Small Savings Schemes Interest Rates Unchanged for Q4 2024-25
The Finance Ministry issued a notification on Tuesday stating, “The interest rates on various small savings schemes for the fourth quarter of the financial year 2024-25, from January 1, 2025, to March 31, 2025, will remain unchanged from the rates notified for the third quarter of the financial year 2024-25 (October 1, 2024, to December 31, 2024).”
Current Interest Rates for Small Savings Schemes
- Sukanya Samriddhi Yojana: 8.2%
- Three-Year Fixed Deposit: 7.1%
- Public Provident Fund (PPF): 7.1%
- Post Office Savings Deposit: 4%
- Kisan Vikas Patra: 7.5%
- National Savings Certificate (NSC): 7.7%
- Monthly Income Scheme: 7.4%
- Senior Citizen Savings Scheme: 8.2%
Government leaves interest rates on various small savings schemes unchanged for October–December quarter of current financial year.
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— NDTV Profit (@NDTVProfitIndia) September 30, 2024
Government’s 11 Small Savings Schemes
The central government operates 11 key small savings schemes, such as Kisan Vikas Patra, PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi Yojana, Post Office Savings Account, and National Savings Monthly Income Scheme. These schemes allow deposits for varying durations, catering to diverse financial needs.
Small Savings Interest Rates Unchanged for Q4 FY 2024-25
Finance Ministry said, the rates of interest on Small Savings Schemes from 1st January to 31st March, 2025, will remain unchanged.@FinMinIndiapic.twitter.com/8S7Xis8xev
— All India Radio News (@airnewsalerts) December 31, 2024
Tax Benefits on Selected Schemes
Investing in certain small savings schemes offers tax benefits under income tax regulations, making them a preferred choice for long-term and secure investments.
Disclaimer: This article is based on 2024 data. Times Bull is not responsible for any financial investments made, as it is entirely your responsibility. Please consult a financial advisor for better guidance and results.