The Centre on Monday decided to maintain the same rate of return on small savings schemes for the October to December quarter, marking the third successive quarter of a status quo in 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 also tax-free like the PPF, was raised to 8.2% earlier this year.
Published – September 30, 2024 08:01 pm IST
