Interest Rate on PPF, Small Saving Schemes Lowered By 0.1%

The government has lowered interest rates on small saving schemes like the Public Provident Fund, the Kisan Vikas Patra, the Sukanya Samriddhi Account and the Senior Citizens Savings by 0.1 per cent for the April-June quarter. The popular Public Provident Fund or PPF and the Five-Year National Savings Certificate will fetch an interest rate of 7.9 per cent, according to a Finance Ministry notification.The existing rate for these two schemes is 8 per cent.

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