The government has given a gift to investors by increasing the interest rate of the Small Savings Scheme before the New Year. For Sukanya Samriddhi Yojana, the interest rate for the fourth quarter of this financial year 2023-24 has been increased to 8.2 per cent. Earlier, investors were given 8 per cent interest in this scheme. However, the government has not increased the interest rates of other schemes.
The government has announced the interest rates of small savings schemes for the fourth quarter of 2023-24. Except for the Sukanya Samriddhi Yojana, the interest rates of any scheme have not been increased. The interest rate for Sukanya Samriddhi Yojana increased to 8.2 per cent during the January to March quarter.
Interest Rates Increased For The Second Time
- This is the second time in this financial year that the government has increased the interest rates for this scheme.
- Earlier during the first quarter, the government had increased the interest rate of Sukanya Samriddhi Yojana from 7.6 per cent to 8 per cent.
If seen this way, in the current financial year, the government has increased the interest rates of this scheme for daughters by .6 per cent.
Increase In Interest Rates Of Fixed Deposit Scheme Also
Along with Sukanya Samriddhi Yojana, the current interest rate on three-year fixed deposits will increase from seven per cent to 7.1 per cent. On the other hand, interest rates on PPF and savings deposits have been maintained at 7.1 per cent and four per cent, respectively.
The interest rate on Kisan Vikas Patra is 7.5 per cent, and its maturity period is 115 months. The interest rate on the National Savings Certificate (NSC) remains the same at 7.7 per cent from January 1 to March 31, 2024. There has been no increase in the interest rate (7.4 per cent) for Monthly Income Scheme (MIS).
