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Govt Slashes Interest Rate on Small Savings Schemes by 20 bps

January 02, 2018

Govt Slashes Interest Rate on Small Savings Schemes by 20 bps

With effect from this Wednesday, the government has cut the interest rates on a variety of small saving schemes including Public Provident Fund (PPF), Kisan Vikas Patra (KVP), National Savings Certificate (NSC), etc. by 0.2%. However, the interest rate on the five-year Senior Citizens Savings Scheme has been left unchanged at 8.3%.
As per the interest rate revision, NSC and PPF will now earn an interest rate of 7.6%, and KVP 7.3%.
Since April 2016, the government has been recalibrating the interest rates on all the small savings schemes on a quarterly basis.

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