Modi govt hikes interest rate on small savings by up to 0.4 per cent
Modi govt hikes interest rate on small savings by up to 0.4 per cent
The Modi government has raised interest rates on small savings schemes, including NSC and PPF, by up to 0.4 per cent for the October-December quarter, in line with rising deposit rates in the banks, here on Thursday.
The rates of interest on small savings schemes for the third quarter of financial year 2018-19 had been revised, the Finance Ministry notified.
Interest rate for the five-year term deposit, recurring deposit Senior Citizens Savings Scheme has been raised to 7.8, 7.3 and 8.7 per cent, respectively.
