Government cuts interest rates on small savings schemes. (Representational picture)
The authorities on Wednesday decreased interest rates on small savings together with PPF, one-year time deposit, senior citizen savings schemes. The adjustments will be effective from April 1, 2021.
Reduced interest rates on varied savings scheme
- Savings deposit revised from 4% to 3.5%, yearly.
- PPF charge down from 7.1% to 6.4%, yearly
- One yr time deposit revised from 5.5% to 4.4%, quarterly.
- Senior citizen savings schemes charge down from 7.4% to 6.5%, quarterly and paid.
More to comply with…
