Union Government Keeps interest rates on Small Savings Schemes Unchanged

Union Government Keeps interest rates on Small Savings Schemes Unchanged

The Union Government has kept interest rates on Small Savings Schemes like PPF and Kisan Vikas Patra, Sukanya Samriddhi Account and Senior Citizens Savings Scheme unchanged for the January-March quarter. Interest rates on small savings are being reviewed every quarter since April last year.

The interest rates on small savings will remain unchanged from the rates prescribed for the fourth quarter of 2016-17 starting from January 1, 2017, and ending on March 31.

Interest Rates on Small Savings Schemes 

1.Public Provident Fund (PPF): 8 percent annual interest rate.

2.5-year National Savings Certificate: 8 percent

3.Kisan Vikas Patra (KVP):7.7 percent with maturity in 112 months.

4.Sukanya Samriddhi Account Scheme: 8.5 percent annually.

5.5 years Senior Citizens Savings Scheme:  8.5 percent. The interest rate on the senior citizens savings scheme is paid quarterly.

6.Savings deposit: 4 percent interest annually,

7.Term deposits of 1-5 years: 7-7.8 percent that will be paid quarterly.

8.5-year recurring deposit: 7.3 percent rate.