Interest Rates for Small Savings Schemes
Interest Rates for Small Savings Schemes
Government of India vide their Office Memorandum (OM) F.No.1/4/2019-NS dated 28.06.2024 has stated that the interest rates on Small Savings Schemes for the Second quarter of financial year 2024-25 starting from 1st July, 2024 and ending on 30th September, 2024 shall remain unchanged from those notified for the First quarter of FY 2024-25.
The rates are given below:
| Scheme | Rate of interest from
01.04.24 to 30.06.24 |
Rate of interest from
01.07.24 to 30.09.24 |
Compounding frequency |
| Senior Citizens Savings Scheme (SCSS) | 8.20% | 8.20% | Paid Quarterly |
| Public Provident Fund | 7.10 % | 7.10 % | Annually |
| Sukanya Samriddhi Account Scheme (SSA Scheme) | 8.20 % | 8.20 % | Annually |
|
Kisan Vikas Patra |
7.50 ( will mature in 115 months ) | 7.50 ( will mature in 115 months ) |
Annually |
| National Savings certificate | 7.70% | 7.70% | Annually |
The above rate of interest for SCSS, KVP and NSC scheme is applicable only for the newly opened accounts. ( i.e. from 01.07.2024 to 30.09.2024)
( Last modified on Jul 09, 2024 at 05:07:27 PM )
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