The government did not change the interest rates of small savings schemes including PPF and SSY, know which one is more beneficial?

Small Savings Schemes include Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit (POTD), Mahila Samman Savings Certificate (MSSC), Kisan Vikas Patra (KVP) and Post Office Monthly Income Scheme (POMS).

Small savings schemes: Among the small savings schemes, the highest interest rate of 8.2 per cent is being offered on Sukanya Samridhi Scheme and Senior Citizen Savings Scheme.

There has been no change in the interest rates of small savings schemes like Public Provident Fund (PPF) and Sukanya Samriddhi Yojna for the period from October to December by the Central Government. After this decision of the government, the interest rate being offered on Small Savings Schemes during the period from July to September will continue.

No change in interest rates on small savings schemes

In a notification issued by the Finance Ministry, it was said that there has been no change in the interest rates on all small savings schemes for the third quarter of the financial year 2024-25 i.e. from October 1, 2024 to December 31, 2024. During this period, the interest rates notified for the second quarter of the financial year 2024-25 (July 1, 2024 to September 30, 2024) will remain applicable.

Small savings schemes include Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit (POTD), Mahila Samman Savings Certificate (MSSC), Kisan Vikas Patra (KVP) and Post Office Monthly Income Scheme (POMS).

The highest interest rate in Sukanya Samriddhi Yojana is 8.2 percent

Among the small savings schemes, the highest interest rate of 8.2 percent is being given on Sukanya Samridhi Scheme and Senior Citizen Savings Scheme. After this, 7.7 percent interest is being given on National Savings Certificate, 7.5 percent on Kisan Vikas Patra and Mahila Samman Savings Certificate, 7.4 percent on Monthly Income Scheme and 7.1 percent on Public Provident Fund.

The interest rate on Post Office Savings Account is 4 per cent, on one-year term deposit is 6.9 per cent, on two-year term deposit is 7 per cent, on three-year term deposit is 7.1 per cent, on five-year term deposit is 7.5 per cent and on five-year RD is 6.7 per cent.