Sukanya Samriddhi Scheme will offer 8.1% interest rate, term deposits of 1-5 years will fetch interest rate of 6.6-7.4%, while the five-year recurring deposit is pegged at 6.9%. Photo: MintNew Delhi: The government on Wednesday decided not to tinker with the interest rates on small savings schemes, including National Savings Certificate (NSC) and Public Provident Fund (PPF), for the April-June quarter. “Accordingly, the rates of interest on various small savings schemes for the first quarter of financial year 2018-19 starting 1 April 2018 shall remain unchanged from those notified for the fourth quarter of financial year 2017-18,” it said. While announcing the quarterly setting of interest rates in 2016, the finance ministry had said that rates of small savings schemes would be linked to government bond yields. The move is expected to see banks lowering their deposit rates in line with the small savings rate offered by the government.

Source: Mint March 28, 2018 15:33 UTC