December 31st 2024.
In a recent announcement, the government of India has decided to keep the interest rates unchanged for various small savings schemes, such as PPF and NSC, for the upcoming quarter starting from January 1, 2025. This decision marks the fourth consecutive quarter where the rates have remained the same.
A notification from the finance ministry stated that the interest rates for the fourth quarter of the financial year 2024-25, which will end on March 31, 2025, will not be altered from the rates set for the previous quarter. This means that the rates for small savings schemes will remain consistent for the next three months.
Under the Sukanya Samriddhi scheme, deposits will continue to earn an interest rate of 8.2%, while the rate for a three-year term deposit will remain at 7.1%, which is the current rate. Popular schemes like the Public Provident Fund and post office savings deposit will also maintain their interest rates at 7.1% and 4%, respectively.
Investors in the Kisan Vikas Patra scheme will earn an interest rate of 7.5%, and their investments will mature in 115 months. Similarly, the National Savings Certificate will continue to offer an interest rate of 7.7% for the period of January-March 2025. The Monthly Income Scheme will also keep its current rate of 7.4%.
It is worth noting that the government has not made any changes in the interest rates for the past four quarters, with the last revision taking place in the fourth quarter of the previous financial year. These rates are applicable to various small savings schemes that are primarily operated by post offices and banks.
In conclusion, the interest rates for small savings schemes will remain unchanged for the upcoming quarter, providing stability for investors. The government will continue to notify the rates every quarter, ensuring transparency and consistency in the interest rates for these schemes.
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