Government reduces interest on small savings schemes

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New Delhi, Jun 29 (UNI) The government on Friday reduced the rates of interest on small savings schemes by 0.1 per cent for the July-September quarter.

These include the savings schemes like this Public Provident fund, the National Savings Scheme and the Sukanya Samridhi Yojana.

While interest on savings deposits, which has been retained at 4 per cent annually, rate on all other schemes has been slashed by 0.1 per cent. The interest on PPF has been reduced from 8 per cent to 7.9 per cent while that of the Sukanya Samridhi account scheme has been reduced from 8.5 per cent to 8.4 per cent.

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