New Delhi, Dec 31: The central government has decided to maintain the interest rates on various small savings schemes for the January-March quarter of the financial year 2024-25, according to an official notification issued by the Ministry of Finance.
"The interest rates on various Small Savings Schemes for the second quarter of FY 2024-25, effective from 1st January 2025 to 31st March 2025, shall remain unchanged from those notified for the first quarter (1st October 2024 to 31st December 2024) of FY 2024-25," the notification stated.
Interest rates on small savings schemes are typically reviewed every quarter by the government. Among the most popular schemes, the Public Provident Fund (PPF) will continue to offer an interest rate of 7.1%. The PPF remains a popular choice due to its tax benefits and long-term savings potential.
The Senior Citizen Savings Scheme (SCSS) will retain its interest rate of 8.2%. Designed to provide financial security for senior citizens, the SCSS offers higher returns compared to many other savings options.
For the Sukanya Samriddhi Yojana, a scheme focused on promoting savings for the education and marriage of girl children, the interest rate will also remain at 8.2%. This scheme is an important part of the government’s 'Beti Bachao Beti Padhao' initiative.
The National Savings Certificate (NSC), a fixed-income investment option, will maintain its interest rate at 7.7%, offering a secure investment with moderate returns.
The Post Office Monthly Income Scheme (PO-MIS), which provides regular monthly income to investors, will offer an interest rate of 7.4%. The Kisan Vikas Patra (KVP), designed to double investments in a set time frame, will continue with an interest rate of 7.5%.
In addition, the 5-Year Recurring Deposit (RD) scheme, which allows investors to deposit a fixed amount every month, will offer an interest rate of 6.7%.
