Small savings interest rates April-June 2024 out
Small Savings Scheme Interest Rates April-June 2024: The government has announced the interest rates for small savings schemes for the April-June 2024 quarter. According to a PTI report, the government has announced that the interest rates on small savings schemes for the April to June 2024 quarter will remain unchanged.
The determination of interest rates for small savings schemes is carried out quarterly by the government.The Shyamala Gopinath Committee proposed a methodology for setting these rates, suggesting that the interest rates for various schemes should be 25 to 100 basis points higher than the yields of government bonds with corresponding maturities.
For the period from April 2024 to June 2024, the interest rates for Sukanya Samriddhi Account and 3-year post office fixed deposits will be 8.2% and 7.1%, respectively. The interest rates for the Public Provident Fund (PPF) and other small savings schemes like NSC and Kisan Vikas Patra have also remained unchanged.
| Post office schemes interest rates for April-June 2024 | ||
| Instrument | Rates of interest April-June 2024 (%) | Rates of interest Jan-March 2024 (%) |
| Savings Deposit | 4 | 4 |
| 1 Year Time Deposit | 6.9 | 6.9 |
| 2 Year Time Deposit | 7 | 7 |
| 3 Year Time Deposit | 7.1 | 7.1 |
| 5 Year Time Deposit | 7.5 | 7.5 |
| 5 Year Recurring Deposit | 6.7 | 6.7 |
| Senior Citizen Savings Scheme | 8.2 | 8.2 |
| Monthly Income Account Scheme | 7.4 | 7.4 |
| National Savings Certificate | 7.7 | 7.7 |
| Public Provident Fund Scheme | 7.1 | 7.1 |
| Kisan Vikas Patna | 7.5 (Matures in 115 months) | 7.5 (Matures in 115 months) |
| Sukanya Samriddhi Account | 8.2 | 8.2 |