The government has slashed the interest rates on small saving schemes by 0.1 percent for the April-June quarter. However, interest on savings deposits has been retained at 4 percent annually. The interest rate for Public Provident Fund and National Savings Certificate will be at 7.9 percent against the existing rate of 8 percent. The move on schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme would prompt banks to cut their deposit rates.
By Vikraman Maniraj | Mar 31, 2017 3:27 PM #InterestRate #DepositRate #PPF
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