Govt revised interest rates for small saving schemes for next three months

The government yesterday revised the interest rates for small saving schemes for the next three months. According to the Finance Ministry, the recurring deposit holders would get a 6.5 per cent interest against the existing 6.2 per cent during the second quarter of this financial year. 

One-year term deposit will get 6.9 per cent interest and two year term deposit will earn 7 per cent interest.The



highest surge of 0.3 per cent was for the five-year recurring deposit which will earn 6.5 percent interest. The interest rates for PPF have been retained at 7.1 per cent. 

The interest rate on the National Savings Certificate remained unchanged at 7.7 per cent. Sukanya Samriddhi account scheme will continue to get 8 per cent interest.