The Government of India, through the Ministry of Finance, has released an official memorandum regarding the interest rates for Small Savings Schemes for the third quarter of the financial year 2024-25. According to the circular, there will be no revision in interest rates for these schemes during the period from 1st October 2024 to 31st December 2024. The rates will remain the same as those applicable for the second quarter (1st July 2024 to 30th September 2024).
Key Highlights:
- No change in interest rates for Small Savings Schemes in Q3 FY 2024-25.
- The current rates, which were effective from 1st July 2024, will continue until 31st December 2024.
- The decision has been approved by the competent authority.
What are Small Savings Schemes?
Small Savings Schemes are a set of government-backed savings instruments that offer an attractive interest rate with a low-risk factor. These include schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC), Sukanya Samriddhi Yojana, Senior Citizen Savings Scheme, and more.
