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New Delhi. The government has raised the interest on a number of small savings schemes by a maximum of 0.3 percent. Interest rates in the economy are currently rising, and the government has taken this step with a view to this. However, the interest rate on the Public Provident Fund (PPF), a savings plan that is popular among wage earners, has been maintained at 7.1 percent. After this change, there will now be 5.8 percent interest on the three-year deposit at the post office. Until now, this was 5.5 percent. For example, interest rates will rise by 0.3 percent in the third quarter of the current financial year.

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A statement from the Ministry of Finance on Thursday states that for the October-December quarter, the senior savings plan will now receive an interest of 7.6 percent. Up to now, this scheme has paid 7.4 percent interest. Under Kisan Vikas Patra, the government has adjusted both the term of office and the interest rate. On this basis, the interest rate on Kisan Vikas Patra is now 7.0 percent, previously 6.9 percent. Now it will mature in 123 months instead of 124 months.

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The Reserve Bank of India has increased its repo by 1.4 percent since May. As a result, banks are raising interest rates on deposits. According to the notification, the interest rate on the Public Provident Fund (PPF) has been maintained at 7.1 percent. The interest rate on Sukanya Samriddhi Yojana has also been maintained at 7.6 percent. The interest on a five-year ‘recurring’ deposit will be 5.8 percent as before.

Disclaimer:Prabhasakshi has not edited this news. This news is published from PTI language feed.