Interest rate on small saving schemes including PPF cut by 0.1 per cent

Interest rate on small saving schemes including PPF cut by 0.1 per cent

New Delhi: The government on Friday lowered the interest rate on small saving schemes, including Public Provident Fund (PPF), by 0.1 per cent for the period between April 1 and June 30.

Accordingly, interest rates for small savings schemes are to be notified on quarterly basis. For the April-June quarter, the interest rate on PPF has been reduced to 7.9 per cent from the earlier 8 per cent.

Interest rate on Kisan Vikas Patra has been reduced to 7.6 per cent (which will mature in 113 months) from the earlier 7.7 per cent (with maturity in 112 months). The Sukanya Samriddhi Account scheme interest rate has been reduced to 8.4 per cent from the earlier 8.5 per cent.