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Small saving schemes interest rates lowered by 0.1%

Small saving schemes interest rates lowered by 0.1%

Friday, March 31, 2017, 12:51 PM

The government has lowered interest rates on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme by 0.1% for the April-June quarter, a move that would prompt banks to cut their deposit rates. For April-June, these have been lowered by 0.1% across the board compared to January-March. However, interest on savings deposits has been retained at 4% annually.
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