Small saving schemes: Interest rates on PPF, NSC, Sukanya Samriddhi left unchanged for Q2; check details

Several small savings scheme will offer the same interest in the quarter ending September 30, 2024, as compared to the preceding three-month period of April to June.

The Ministry of Finance, in a notification issued on June 28, said the interest rates on schemes like Public Provident Fund (PPF), Sukanya Samriddhi, and National Savings Certificate (NSC) will remain unchanged in the second quarter of fiscal year 2023-24.

"The rates of interest on various small savings schemes for the second quarter of FY 2024-25, starting from July 1, 2024, and ending on September 30, 2024, shall remain unchanged from those notified for the first quarter (March 1, 2024, to June 30, 2024) of FY 2024-25," the notification stated.

Here's a look at the interest rate offered by the popular small savings schemes:

As per the notification, deposits 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 post office savings deposits scheme too have been retained at 7.1% and 4%, respectively.

The interest rate on the Kisan Vikas Patra will be 7.5%, and the investments will mature in 115 months.

The interest rate on the National Savings Certificate (NSC) will remain at 7.7% for the July-September 2024 period.

Like the current quarter, the Monthly Income Scheme will earn 7.4% for investors.

The government notifies the interest rates on small savings schemes, majorly operated by post offices and banks, every quarter.