The government on Friday hiked the interest rates on small deposits -- including post office term deposits, NSC and senior citizen savings scheme -- by up to 1.1 percentage points from January 1, in line with firming interest rates in the economy.
However, the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi has not been changed.
National Savings Certificate (NSC) will yield a 7 per cent interest rate from January 1, compared to 6.8 per cent at present. Similarly, the senior citizen savings scheme will give 8 per cent interest against 7.6 per cent currently.
Interest rates on Post office term deposit schemes of duration 1 to 5 years will rise by up to 1.1 percentage points.
The monthly income scheme too will yield 7.1 per cent interest, up from 6.7 per cent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.