Small Savings Interest rate got hiked – Positive move from RBI
The Government announces the Revision of interest rates for Small Savings Schemes for the Third Quarter of the current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, 2018.
Find the small savings schemes and its Rate of Interest (RoI) in below table,
|Schemes||RoI w.r.t 01/07/2018 to 30/09/2018||RoI w.r.t 01/10/2018 to 31/12/2018||Compounding frequency|
|1 Year Time Deposit||6.6||6.9||Quaterly|
|2 Year Time Deposit||6.7||7||Quaterly|
|3 Year Time Deposit||6.9||7.2||Quaterly|
|5 Year Time Deposit||7.4||7.8||Quaterly|
|5 Year Recurring Deposit||6.9||7.3||Quaterly|
|5 Year Senior Citizen Savings Scheme||8.3||8.7||Quaterly and Paid|
|5 Year Monthly Income Account||7.3||7.7||Monthly and Paid|
|5 Year National Savings Certificate||7.6||8||Annually|
|Public Provident Fund Scheme||7.6||8||Annually|
|Kisan Vikas Patra||7.3 (will mature in 118 months)||7.7 (will mature in 112 months)||Annually|
|Sukanya Sammridhi Account Scheme||8.1||8.5||Annually|
It’s a positive move from RBI for those who plans to have investment on above schemes.