Small Saving Schemes Rates of interest Apr – Jun 2024


The Nationwide Financial savings Schemes (NSSs) are one of many highly regarded saving schemes in India. These are regulated by the Ministry of Finance. They’re thought of to be very secure and include enticing returns.

These schemes additionally act as devices of monetary inclusion particularly within the geographically inaccessible areas attributable to their implementation primarily by means of the Put up Workplaces, which have attain far and large.

Indian households’ financial savings in Put up workplace time deposits and PPF (Public Provident Fund) have been rising steadily since 2011. Under desk give us an thought on the full excellent quantities which might be with numerous small financial savings schemes.

Post-office-Deposits-Small-Saving-Schemes-PPF-trend-2011-to-2022
Indian Family financial savings in Put up workplace Schemes | RBI’s newest information 2023

A number of the highly regarded schemes which fall beneath Small Financial savings Schemes are as under;

  • PPF (Public Provident Fund)
  • Sukanya Samriddhi Scheme
  • Month-to-month Revenue Scheme (Month-to-month Revenue Account)
  • Senior Citizen Financial savings Scheme
  • KVP (Kisan Vikas Patra)
  • NSC (Nationwide Financial savings Certificates)
  • Time Deposits &
  • Recurring Deposits

Newest Put up Workplace Small Saving Schemes Rates of interest Apr – Jun 2024 | Q1 of FY 2024-25

The federal government has saved rates of interest on all small financial savings schemes unchanged April to June quarter of FY 2024-25. The most recent charges of curiosity relevant on numerous small financial savings schemes for the third quarter from Apr to Jun 2024 efficient from 1.04.2024 could be as under;

Saving Scheme Charges of Curiosity from
1st Jan 2024 to thirty first Mar 2024
New Charges of Curiosity from
1st Apr 2024 to thirtieth Jun 2024
Frequency of
Compouding
Most Deposit
(in Rs)
Tenure
(Years)
Sukanya Samriddhi Account – Woman Youngster Scheme
8.2% 8.2% Yearly 1.5 Lakh 21
 5 Yr Sr.CSS 8.2% 8.2% Quarterly & Paid 30 Lakh
(w.e.f. FY 2023-24)
5
 PPF 7.1% 7.1% Yearly 1.5 Lakh 15
 Financial savings Deposit 4.0% 4.0% Yearly No Restrict NA
 1 Yr Time period Deposit 6.9% 6.9% Quarterly No Restrict 1
 2 Yr Time period Deposit 7% 7% Quarterly No Restrict 2
 3 Yr Time period Deposit 7.1% 7.1% Quarterly No Restrict 3
 5 Yr Time period Deposit 7.5% 7.5% Quarterly No Restrict 5
 5 Yr Recurring Deposit 6.7% 6.7% Quarterly No Restrict 5
 5 Yr MIS 7.4% 7.4% Month-to-month & Paid 9.5 Lakh Single A/c
15 Lakh Joint A/c
5
 5 Yr NSC 7.7% 7.7% Yearly No Restrict 5
Kisan Vikas Patra (KVP) 7.5% 7.5% Yearly No Restrict 115 months
New Put up workplace Small Saving Schemes Curiosity Charges Desk (Apr – Jun 2024)
  • With efficient from the Monetary Yr 2023-24, the utmost deposit restrict for the month-to-month financial savings scheme is enhanced from Rs.4.5 lakh to Rs.9 lakh for a single account and from Rs.9 lakh to Rs.15 lakh for a joint account.
  • The utmost deposit for senior citizen saving scheme has been enhanced from Rs 15 lakhs to Rs 30 lakhs.
  • Kindly word that rates of interest of Small Financial savings Schemes at the moment are reviewed and reset (if any) on a quarterly foundation.
  • The revised charges (if any) are relevant for all the brand new investments MADE in the course of the respective interval. For the prevailing investments beneath all of the schemes (EXCEPT PPF & SUKANYA SAMRIDDHI SCHEME), the contracted rate of interest stays unchanged till maturity. The revised charges (if any) are relevant for all the brand new investments MADE in the course of the respective interval.

(Put up first revealed on : 06-Apr-2024)

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