Global News

[ad_1] Interest rates on small savings schemes like PPF, NSC, etc, are now market-linked and moves in tandem with 10-year G-Sec yield. Going by the G-Sec yields trend, the interest rates on small savings schemes are likely to be raised, says an expert Even as the RBI earlier this month kept the interest rates on hold for the fifth in a row, the government is expected to revise upwards interest rates on small savings schemes like PPF, NSC, etc, on such schemes for January-March 2024 at the end of this month — December 29. An expert said that going by the G-Sec yields trend, the interest rates on small savings schemes are likely to be raised. Sunil Sinha, principal economist and senior director (public finance) at India Ratings & Research, said, “Interest rates on small savings schemes like PPF, NSC, etc, are now market-linked and moves in tandem with 10-year G-Sec yield. Therefore, the interest rate paid on these schemes is likely to go up.” A senior banker has said the governm...

[ad_1] Interest rates on small savings schemes like PPF, NSC, etc, are now market-linked and moves in tandem with 10-year G-Sec yield. Government also raised interest rates on small savings schemes such as SSY and 3-year post office time deposits Small Savings Schemes Vs Bank FD: As the government hiked interest rates on 3-year time deposits and the Sukanya Samriddhi Scheme, the annual return rates of small savings schemes have increased. These fixed-income schemes are compared with bank FD (fixed deposits). Recently, SBI and Bank of Baroda have also raised their FD interest rates. Here are the latest interest rates on small savings schemes and bank fixed deposits. The interest rate on PPF stands at 7.1 per cent, that on NSC at 7.7 per cent, and Senior Citizen Savings Scheme at 8.2 per cent. Latest Interest Rates On Small Savings Schemes: The interest rates for the January-March 2024 quarter have been fixed as follows: Savings Deposit: 4 per cent 1-Year Post Office Time Deposits...