Interest rates on small savings schemes remain unchanged for Q1 FY25 [Video]

The government on Friday, March 8, has kept the current interest rates unchanged on various small savings scheme for the initial quarter of the upcoming fiscal year, beginning April 1, 2024. This decision was confirmed through a notification released by the finance ministry on Friday.

“The rates of interest on various small savings schemes for the first quarter of FY 2024-25, starting from April 1, 2024, and ending on June 30, 2024, shall remain unchanged from those notified for the fourth quarter (January 1, 2024, to March 31, 2024) of FY 2023-24,” the notification said. The deposit under the Sukanya Samriddhi scheme will attract an interest rate of 8.2%, while the rate on a three-year term deposit remains at 7.1%.

The interest rates for popular PPF and savings deposits too have been retained at 7.1% and 4%, respectively. The interest rate on the Kisan Vikas Patra will be 7.5%, and …