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Small Savings Schemes interest rates announced for July-September quarter FY26

Jyoti — Wed, 02 Jul 2025 11:00:22 +0000

The Finance Ministry announced on June 30, 2025 that there will be no change in the interest rates of various small savings schemes such as Public Provident Fund (PPF), National Savings Certificate (NSC) for the second quarter (July to September) of FY 2025–26. This is the sixth consecutive quarter when the interest rates of these schemes have been kept unchanged. The government’s decision aims to provide stable and predictable returns to small investors, allowing them to stay safe from market volatility and make long-term financial plans.

Why is it in discussion?

On June 30, 2025, the Finance Ministry of the Government of India announced that the interest rates on small savings schemes will remain unchanged for the second quarter (July-September) of the financial year 2025–26 . This is the sixth consecutive quarter when there has been no change in interest rates.

This decision reflects the Government’s efforts towards ensuring stable and safe returns for middle and lower income group investors , especially when inflation is declining and current rates are already competitive.

Key Interest Rates (July-September 2025)

Plan	Interest Rate (%)
Public Provident Fund (PPF)	7.1
Sukanya Samriddhi Yojana (SSY)	8.2
National Savings Certificate (NSC)	7.7
Monthly Income Scheme (MIS)	7.4
Kisan Vikas Patra (KVP)	7.5 (Maturity: 115 months)
3-Year Fixed Deposit	7.1
Post Office Savings Account	4.0

Objective and key facts of the schemes PPF (Public Provident Fund)

Long term investment, suitable for retirement.
Government backed, full tax exemption(EEE).
Interest rate: 7.1% , unchanged.

Sukanya Samriddhi Yojana (SSY)

Targeted scheme for girl child.
Highest interest rate: 8.2%
Promotion of education and future security of daughters.

National Savings Certificate (NSC)

Medium Term Guaranteed Investment Plan.
Interest: 7.7% , compounded annually (paid on maturity).

Kisan Vikas Patra (KVP)

Investment amount doubles in 115 months.
Interest Rate: 7.5% , safe and predictable.

Monthly Income Scheme (MIS)

A scheme providing regular monthly income , especially for retired people.
Interest rate: 7.4% , with monthly payments.

Significance and impact

Stability and Transparency: Keeping rates unchanged helps maintain investor confidence.
Benefits low-risk investors: for whom capital protection is a priority.
Support to government borrowing: Savings raised from these schemes support public spending.
Safe option in times of economic uncertainty: Drives domestic investment amid global instability.

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Bank interest rates are decreasing, but these small savings schemes are offering 8.2% interest.

Jyoti — Sat, 03 May 2025 04:11:42 +0000

New Delhi- Recently, the Reserve Bank of India (RBI) MPC has cut the repo rate by 25 basis points for the second consecutive time. After this cut, the repo rate is now 6 percent.

After the RBI’s decision, many banks have reduced interest rates. In such a situation, interest rates on fixed deposits (FD) are also decreasing. However, investors are still getting 8.2 percent interest rates in many small savings schemes.

Most small savings schemes offer high returns between 7-8 percent per annum, while fixed deposits generally offer returns between 6-7 percent per annum. SBI offers 6.7 percent interest to general customers on its 1-year FD. Whereas, on one-year FD, Union Bank of India offers 6.75 percent, Bank of Baroda 6.85 percent, HDFC Bank 6.6 percent and ICICI Bank 6.7 percent interest. Along with this, senior citizens get an additional 0.50 percent interest on these deposits. Small savings schemes running in the country offer interest ranging from 6.7 to 8.2 percent. Investors get 8.2 percent interest in Senior Citizens Savings Scheme (SCSS) and Sukanya Samriddhi Yojana (SSY).

Sukanya Samriddhi Account Scheme

The interest rate on Sukanya Samriddhi Account Scheme is 8.2 percent. In January 2025, the government increased this interest rate from 8 percent to 8.2 percent. The interest on this account is increased annually.

Senior Citizen Savings Scheme (SCSS)

Senior Citizen Savings Scheme (SCSS) is offering 8.2 percent interest on quarterly basis. This interest rate was increased from 8 percent to 8.2 percent in April 2023 and is applicable till now. The minimum deposit in this scheme starts from Rs 1000 and investors can invest up to Rs 30 lakh.

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New Rule: Govt has changed the rules for PPF, Sukanya Yojana and other small savings schemes

Jyoti — Fri, 04 Apr 2025 11:00:07 +0000

Rules Change: The government has changed the rules of PPF, Sukanya Samriddhi Yojana and other small savings schemes. This decision to remove the charges related to adding and changing the nominee in PPF and other savings schemes is a relief for investors and depositors.

These changes made in banking laws are in line with modern needs and will provide more security to depositors. This will allow PPF account holders and other financial investors to update their account without any additional cost.

Rules Change: Now no one will have to pay money to add the name of the nominee in the Public Provident Fund. Finance Minister Nirmala Sitharaman has announced that no fee will be charged for adding or changing the nominee in Public Provident Fund (PPF) accounts. The government has changed the rules related to nomination in small savings schemes through a gazette notification on April 2, 2025. Earlier, a fee of Rs 50 was charged for changing or canceling the nomination. Along with this, the government has also changed the rules of small savings schemes including Sukanya Samriddhi Yojana (SSY) and National Savings Certificate (NSC).

Nomination fee for adding nominee in PPF account abolished

Finance Minister Nirmala Sitharaman has informed on the social media platform ‘X’ that complaints were being received about banks and financial institutions charging fees for adding or changing nominees. In view of this, the government has decided to abolish this fee. The nominee has a legal right over the amount of the original account holder. Therefore, this move is a big relief for PPF holders, allowing them to update or modify their nominee information without any additional fee.

Also Read- ITR Filing: Which form for senior citizens to file income tax return, know how to clear the confusion

Changes in rules for savings schemes too

In the gazette notification, the fee of Rs 50 charged for cancelling or changing the nomination in government savings schemes has also been removed. This means that now the account holders of PPF, Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC) and other small savings schemes will not have to pay any additional fee for adding or changing the nominee.

Major change in Banking Amendment Bill 2025

Recently the Banking Amendment Bill 2025 has been passed, in which depositors are allowed to nominate a maximum of four people. This will provide more convenience and security to the account holders. Another important change in the banking law is that the definition of “Adequate Tax” has been updated. Earlier, this limit was Rs 5 lakh, which has now been increased to Rs 2 crore. This rate was fixed about 60 years ago and now it has been revised according to the current needs.

Tenure of directors in cooperative banks extended

According to the new amendment, the tenure of directors (except chairman and whole-time director) in cooperative banks has been increased from 8 years to 10 years. This amendment has been made in accordance with the Constitution (97th Amendment) Act 2011.

Key points related to PPF nominee update

Now there will be no charge for adding or changing nominee in PPF accounts.
The fee of Rs 50 for changing the nomination in all government savings schemes has been removed.
In the Banking Amendment Bill 2025, a maximum of 4 nominees are allowed.
The limit of substantial tax has been increased from Rs 5 lakh to Rs 2 crore.
The tenure of directors in cooperative banks has been increased from 8 years to 10 years.

Also Read- Income Tax Calendar: Important deadlines by Income tax department in April 2025, check details

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PPF, KVP, SSY Interest rate: Government fixed the interest rate of PPF, KVP, SSY till June 30, check new rate

Jyoti — Sat, 29 Mar 2025 07:25:25 +0000

Government Schemes Interest Rates: The central government has given its decision on the interest rates of small savings schemes for the first quarter of the financial year 2025-26.

The government has not changed the interest rates on all small savings schemes including PPF, KVP, SSY for the April-June quarter. Let us tell you that this is the fifth consecutive quarter when the government has not changed the interest rates of small savings schemes. The Finance Ministry said in a circular that the interest rates on different small savings schemes in the quarter starting from April 1, 2025 and ending on June 30, 2025 will remain unchanged from the rates notified for the January-March quarter of the financial year 2024-25.

Sukanya Samriddhi Yojana, interest on Kisan Vikas Patra will remain same as before
According to the circular, accounts opened in the name of daughters under Sukanya Samriddhi Yojana will get 8.2 percent interest, while 3-year FDs will continue to get 7.1 percent interest. The interest rates of PPF and post office savings deposit schemes, which are popular among the common people, have also been retained at 7.1 percent and 4 percent respectively for the next quarter. The interest rate on Kisan Vikas Patra (KVP) will remain at 7.5 percent as before and this investment will mature in 115 months.

National Savings Certificate will continue to get interest at the rate of 7.7 percent
The interest rate on National Savings Certificate (NSC) will remain at 7.7 percent for the period April-June 2025. Apart from this, Monthly Income Scheme (MIS) will also continue to get interest of 7.4 percent like the current quarter. Let us tell you that the government last changed the interest rates of some schemes for the fourth quarter of the financial year 2023-24. The government changes the interest rates of small savings schemes every 3 months as per the need and issues its notification.

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Small savings schemes: Govt announces interest rates for PPF, NSC, SSY for April-June, check the new interest

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Small savings schemes: Govt announces interest rates for PPF, NSC, SSY for April-June, check the new interest

Jyoti — Sat, 29 Mar 2025 04:38:09 +0000

The government last changed the interest rates on some schemes for the fourth quarter of 2023-24. The government issues notification of interest rates on small savings schemes every quarter.

If you invest in small savings schemes like Sukanya Samriddhi Yojana and Public Provident Fund (PPF), then this news is for you. The government decided to keep the interest rates on small savings schemes unchanged for the April-June quarter of the financial year 2025-26. This is the fifth consecutive quarter when there has been no change in the interest rate on small savings schemes.

What did the Finance Ministry say

The Finance Ministry said in a notification that the interest rates on different small savings schemes for the quarter starting from April 1, 2025 and ending on June 30, 2025 will remain unchanged from the rates notified for the March quarter of the financial year 2024-25. Let us tell you that the government had last changed the interest rates in some schemes for the fourth quarter of 2023-24. The government issues notification of interest rates on small savings schemes every quarter.

What is the interest rate of which scheme

Deposits under the Sukanya Samriddhi Yojana will fetch an interest rate of 8.2 per cent, while the rate on three-year term deposits will remain at 7.1 per cent in the current quarter. Interest rates on the popular PPF and post office savings deposit schemes have also been retained at 7.1 per cent and four per cent respectively for the next quarter. The interest rate on Kisan Vikas Patra will remain at 7.5 per cent as before and this investment will mature in 115 months. The interest rate on National Savings Certificate (NSC) will remain at 7.7 per cent for the period April-June 2025. The Monthly Income Scheme will earn 7.4 per cent for investors as in the current quarter.

there was a risk of a cut

Let us tell you that the Reserve Bank of India had cut the repo rate by 0.25 percent in the month of February last year. After this cut, the repo rate became 6.25 percent. After the RBI’s decision, there was a fear that the interest rates of small savings schemes would be reduced. However, the government has not made any change for the upcoming quarter.

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EPFO maintains interest rate on PF deposits, PPF Sukanya may also be cut like small savings schemes

Jyoti — Sat, 01 Mar 2025 08:29:47 +0000

The Employees Provident Fund Organization ( EPFO ) has decided to retain the interest rate of 8.25 percent on Provident Fund deposits i.e. EPF for 2024-25. This interest is equal to the previous financial year.

This means that there has been no increase in the interest rate. Now a decision is to be taken on small savings schemes like Public Provident Fund and Sukanya Samriddhi for the next quarter. This decision will be taken before March 31. It is believed that the government may cut the interest rate of small savings schemes.

What is the reason

In fact, in the month of December, the Reserve Bank of India (RBI) has cut the repo rate. After this, to promote consumption, the Finance Ministry may consider reducing the rates for small savings schemes in the next financial year. Let us tell you that the interest rates on Sukanya Samriddhi have been kept at 8.2 percent and the interest rates on post office savings deposit schemes apart from PPF have been retained at 7.1 percent and 4 percent respectively.

What is the decision on EPF?

The Ministry of Labor said that the Central Board of Trustees (CBT) in its meeting on Friday has decided to give 8.25 percent interest on Employees’ Provident Fund (EPF) for 2024-25. The ministry said that the interest rate will be officially notified by the government. After this, EPFO will deposit the interest rate in the accounts of the members.

According to the statement, the decision on the interest rate was taken at the 237th meeting of the Central Board of Trustees of EPFO chaired by Union Labor and Employment Minister Mansukh Mandaviya here on Friday . The ministry said that compared to many other fixed income instruments, the Employees Provident Fund (EPF) offers relatively high and stable returns, ensuring a steady increase in savings. Let us tell you that in February 2024, the EPFO had marginally increased the interest rate on EPF from 8.15 percent in 2022-23 to 8.25 percent for 2023-24.

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Senior Citizens Savings Scheme – Get 24 lakh rupees in 5 years, See the complete calculation

Jyoti — Mon, 13 Jan 2025 07:27:49 +0000

Senior Citizen Savings Scheme (SCSS) provides fixed returns to retired people. Also, you can invest in this scheme without any risk. This scheme run by the government gives the highest interest among the small savings schemes.

For the last few months, investors are facing losses in the stock market, due to which many people are adopting the path of safe investment. In such a situation, we are also going to give you information about the calculation of a scheme, so that you too will have lakhs of rupees. This government scheme is Senior Citizen Savings Scheme (SCSS). This scheme is considered one of the best investments for planning safe and stable income after retirement.

Senior Citizen Savings Scheme (SCSS) provides fixed returns to retired people. Also, you can invest in this scheme without any risk. This scheme run by the government offers the highest interest among small savings schemes. This makes it an attractive option for retired people who want to increase their savings.

How much interest is given?

Under the Senior Citizen Savings Scheme, 8.2% annual interest is given. SCSS enables senior citizens to keep their retirement funds safe and also get a steady income. Here is a detailed information about how this scheme works and its potential benefits.

How does this scheme work?

Senior citizens can open SCSS accounts individually or jointly with their spouses. Under this scheme, a maximum of Rs 30 lakh can be deposited in each account, with a minimum investment of Rs 1,000. Deposits up to Rs 1 lakh can be made in cash, while amounts above Rs 1 lakh must be paid by cheque.

How to earn 24 lakhs

Retired couples can get maximum benefit by opening separate SCSS accounts, which will double their investment limit to ₹ 60 lakhs. This will give ₹ 1,20,300 as quarterly interest. At the same time, the interest income on an annual basis will be ₹ 4,81,200. Similarly, on maturity after five years, a total interest of ₹ 24,06,000 will be received. That is, after investing Rs 60 lakh under two accounts, you can get Rs 24 lakh as interest after five years.

The specialty of this plan

High Returns: Senior Citizen Savings Scheme offers an annual interest rate of 8.2%, making it the highest interest paying small savings scheme along with Sukanya Samriddhi Yojana.
Tax Benefits: The deposits are eligible for tax benefits under Section 80C of the Income Tax Act, providing extra savings to the account holders.
Safety: This government-backed scheme ensures 100% safety of the deposits.

How much will be the profit on investing up to Rs 30 lakh in a single account?

Quarterly interest: ₹60,150
Annual interest: ₹2,40,600
Total interest in five years: ₹12,03,000
Total maturity amount: ₹42,03,000

Senior Citizen Savings Scheme is an ideal option for those who want a stable income and financial security after retirement. With the option of renewal after five years of maturity, it remains a reliable way to safeguard your financial future.

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Small Saving Scheme Interest Rate: Central govt has fixed the interest on small savings schemes for the January-March 2025 quarter

Jyoti — Thu, 02 Jan 2025 06:29:13 +0000

The interest rates of small savings schemes were last changed in the January-March 2024 quarter. At that time, the interest rates of three-year post office time deposits and Sukanya Samriddhi Yojana were revised.

Before the new year, the government has taken a big decision for those investing in small savings schemes. The Department of Economic Affairs, Ministry of Finance has announced that there has been no change in the interest rates of these schemes for the January-March 2025 quarter. This means that the same interest rates which are already fixed will remain applicable on these schemes even in the last quarter of the current financial year 2024-25.

On which schemes will this decision be applicable?

This decision will be applicable on small savings schemes like Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), National Saving Certificate (NSC), Post Office Time Deposit (POTD), Mahila Samman Saving Certificate and Post Office Monthly Income Scheme (POMIS). Investors on all these schemes will currently get interest based on the previous rates. That is, those who thought that they could get more interest on these schemes in the new year, this will not happen now.

How does the government decide interest rates?

Such small savings schemes are backed by the central government and have a sovereign guarantee. The government reviews the interest rates of these schemes every quarter. The recommendations of the Shyamala Gopinath Committee are followed to fix the interest rates. According to the committee, the interest rates of these schemes are fixed based on the yield of government bonds. The interest rates are generally kept 0.25% to 1% higher than the yield of government bonds, so that these remain attractive for investors.

When was the last time interest rates were increased?

The interest rates of small savings schemes were last changed in the January-March 2024 quarter. At that time, the interest rates of three-year post office time deposits and Sukanya Samriddhi Yojana were revised. There has been no change in the rates of these schemes since April 2024.

Big Update: New rules of PPF-Sukanya Samriddhi Yojana will be implemented from October 1

Jyoti — Sun, 01 Sep 2024 07:28:56 +0000

The Economic Affairs Department of the Ministry of Finance issued a circular. According to this circular, new rules for Small Savings Schemes (Small Savings Schemes New Rules 2024) will be issued from October 1, 2024. These rules are for irregular accounts as well as regular account holders.

The department has identified all the categories covered under the scheme and has issued guidelines for each category.

National Small Savings Accounts (National Saving Scheme)

The current scheme rates will be applicable on all accounts opened before 2 April 1990. On the other hand, Post Office Savings Account (POSA) will get interest at the rate plus 2%. After 1 October, both these accounts will get 0% interest.

The current scheme rate will be applicable to accounts opened after 2 April 1990. The account rate will also be applicable to POSA. But after 1 October, no interest will be paid on these two accounts.

If someone has more than 2 accounts, then no interest will be given on the third additional account. Apart from this, the principal amount of the third account will also be refunded.

Public Provident Fund (PPF)

If a minor’s PPF account is opened, he will get interest as per Post Office Savings Account till the age of 18 years. As soon as the minor turns 18 years old, he will get the benefit of PPF interest rate. Even the calculation of maturity in this will be done from the 18th birthday of the minor.

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If an investor has more than one PPF account, the secondary account will be merged with the primary account. 0% interest will be given from the date of opening more than two accounts.

NRI PPF account holders will also get POSA interest till September 30. After this, i.e. from October, the interest rate will be 0 percent.

Sukanya Samriddhi Yojana

If grandparents have opened Sukanya Samriddhi Account, then the account will be transferred to the guardian or biological parents. If there are more than two accounts, then the additional account will be closed.

Instructions for post offices

The post office will have to collect the PAN Card and Aadhaar Card details of the account holders or guardians. It is the responsibility of the post office to inform the customer about these new rules and guide them.

PPF/SSY Deadline : Attention investors of these small savings schemes, if this work is not done till 31st March, penalty will be imposed.

Pravesh Maurya — Thu, 22 Feb 2024 06:11:31 +0000

PPF/SSY Deadline: It is necessary to invest a minimum amount of a fixed amount in Sukanya Samriddhi Yojana, Public Provident Fund and National Pension System by 31st March every financial year.

There is an important update for those investing in various small savings schemes. Investors of Public Provident Fund i.e. PPF, Sukanya Samriddhi Yojana and NPS may suffer other losses including penalty.

If you also have an account in any of these schemes, but you have not deposited money in it yet in this financial year, then you have only time till March 31 to keep the account active. If you miss making the minimum annual deposit, your account may be frozen. Also, you may have to pay a fine. Moreover, you may also be deprived of saving tax.

Delay can cause these losses

The last date for minimum deposit in PPF, NPS and Sukanya Samriddhi Yojana is 31st March of every financial year. That means for the financial year 2023-24 this date is 31 March 2024. According to the Public Provident Fund Rules 2019, PPF account holders are required to deposit at least Rs 500 in the account every financial year. If the minimum amount is not deposited, the PPF account will be discontinued.

Minimum investment required for PPF

Loan and partial withdrawal facility will not be available after the account is closed. Not only this, without completely closing such account, you will not be able to open another account in your name. Closed PPF account can be reopened, but for this you will have to pay a penalty of Rs 50 every year. Along with the fine, the person will also have to deposit Rs 500 as annual minimum deposit. If the account is closed due to non-payment of minimum deposit, you will have to pay Rs 550 every year to reopen it.

Such minimum investment in Sukanya

Sukanya Samriddhi Yojana is considered a good option for arranging money for the career and marriage of the beloved daughter. If you have an account in Sukanya Samriddhi Yojana, then you have to deposit a minimum of Rs 250 every year. If you do not deposit this money then the account is considered default. To reopen the account, a fine of Rs 50 per year will have to be paid. Also, a minimum deposit of Rs 250 will have to be made every year.

Tax related benefits of these schemes

If you are thinking of paying tax in the old tax regime in the financial year 2023-24, then investing in schemes like PPF and Sukanya gives an opportunity to save tax. Under Section 80C of the Income Tax Act, deduction of up to Rs 1.5 lakh is available on investments in PPF and Sukanya. To reduce the tax burden by taking advantage of deduction under 80C, it is necessary to invest by March 31, 2024. The last date for making tax saving investments for every financial year is 31st March. If you do not invest till this date, you will not be able to claim deduction in that financial year.

These changes have taken place in the new tax regime

The government has made the new tax regime attractive. The income tax slab has been changed under the new tax regime from April 1, 2023. Basic exemption limit has been increased from Rs 2.5 lakh to Rs 3 lakh. Standard deduction is included in this. After this, now there is no tax on income up to Rs 7 lakh in the new regime.

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Big Update: These 5 major changes in personal finance rules from today

Pravesh Maurya — Mon, 01 Jan 2024 05:15:15 +0000

The new year 2024 has started. With this the new month has also started. Every time the month changes, some changes occur which have a deep impact on people’s pockets. At the same time, some such changes also take place with the passing of the year. We are going to tell you about those 5 big changes, which are related to personal finance and are going to affect your life…

Small savers benefit

The government had recently reviewed the interest rates of small savings schemes. In the review, interest on Sukanya Samriddhi Yojana and 3 year deposit scheme was increased to 0.20 percent. The new increased interest rates are for the January-March 2024 quarter. The quarter has started from today. Meaning, the benefits of these increased interest rates will start coming from today. The interest rate on Sukanya Samriddhi Yojana has now increased to 8.20 percent. The interest rate on 3 year time deposits has increased to 7.10 percent.

Will be able to get SIM without submitting documents

Customers taking new mobile connections are going to get the benefit of simplified process in the new year. After recent changes in the rules, the need to submit physical documents has been eliminated. Now KYC verification for the new SIM will be completely digital. This will prevent cases of misuse by taking SIM in someone else’s name.

Insurance documents will become easier

Insurance regulator IRDAI has asked all insurance companies to issue revised customer information sheets from January 1, 2024. Customer Information Seat i.e. CIS contains all the information related to insurance. IRDAI has asked the insurance companies to provide all the information in CIS in simple language, so that even the common customer can understand all the terms and conditions of the related insurance.

The dream of a new car becomes expensive

If you are planning to buy a new car in the new year, then this update is going to be disappointing for you. Many car companies including Maruti Suzuki, Tata Motors, Mercedes-Benz and Audi have announced to increase the prices of their various cars from the first of the year. Car companies say that due to rising costs they have to increase prices.

These UPI IDs will be closed

Currently, most of the transactions in the country are taking place through UPI. From big cities to remote villages, it has reduced people’s dependence on cash. However, with the rise of digital banking the risks of fraud have also increased. Due to this, a large number of UPI IDs are being closed from today. This action is being taken on those UPI IDs which have not been used for the last one year.

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PPF Rate Hike: Government may increase interest rates on PPF, Sukanya savings deposits in 2024? Know everything here

Pravesh Maurya — Fri, 29 Dec 2023 05:09:49 +0000

Modi government may soon take a decision regarding increase in interest rates of small savings schemes. In this regard, the Finance Ministry will review the interest rates for the fourth quarter (January to March) of the financial year 2023-24. The increased rates will be effective from January 1, 2024.

Review every three months: The government reviews the interest rates of small savings schemes every three months. Last time on September 30, interest rates were increased only on two schemes, while there was no change in other categories of schemes. In such a situation, it is expected that this time a decision on increase in remaining schemes can be taken.

There was no change in their interest rates: At present the government is running a total of 12 types of small savings schemes including Post Office Savings, PPF, Sukanya, Senior Citizen, National Certificate. Last time, the interest rates of most of these savings schemes were kept stable. Only the interest rate for the five-year recurring deposit scheme was increased from 6.5 to 6.7 per cent.

No change in PPF since last three years

Before April 1, 2020, the interest rate on PPF in the country was 7.9%. During the Corona period, the government had revised and reduced the interest rates of many savings schemes in the April-September 2020 quarter. Since then the interest rate of PPF has remained at 7.1 percent. Meanwhile, there were many amendments in interest rates but there was no change in PPF.

It is expected that this time the government may increase the interest rate of PPF after about four years. According to officials, the main reason for not much increase in PPF interest rate is that the return after tax in this scheme is high. In the case of the highest tax bracket, it reaches approximately 10.32 per cent. In view of this, the interest rate is not changed.

Finance Ministry decides

The Finance Ministry announces rates on small post office savings every quarter. Except for small savings schemes, banks decide the rates on FD in their own way based on the repo rate of the Reserve Bank. The purpose of small savings schemes is to encourage common people to save. Also, a source of regular earning is to be provided through Monthly Income Scheme and Senior Citizen Deposit Scheme.

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Govt Scheme: Many benefits are available on government savings schemes, see the complete list

Pravesh Maurya — Mon, 27 Nov 2023 04:07:20 +0000

Investing in government small savings schemes is considered a profitable deal. Small savings schemes include Public Provident Fund i.e. PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi Yojana etc.

These schemes are for all categories of people, which provide many benefits ranging from tax benefits to guaranteed returns. More and more people like to invest in these savings schemes. It has many benefits, let us know the benefits of Small Saving Scheme.

1. Guaranteed Returns

Small savings schemes include Public Provident Fund i.e. PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi Yojana etc. All these small saving schemes give guaranteed returns. In this you know that you are going to get this much amount in this time.

2. Financial Independence and Stability

If you have invested in small savings schemes, then it has so much potential that it gives financial independence and stability to yourself and your family. Small savings schemes serve as the foundation of secure, regular income and a strong financial strategy.

3. Income tax exemption

Many small savings schemes provide the benefit of tax exemption. Under Section 80C of Income Tax, you can save up to Rs 1.5 lakh. Schemes like PPF, Senior Citizen Saving Scheme, Time Deposit and FD provide the benefit of tax exemption.

4. Minimum investment

Investors will have to make minimum investment. Depending on the small savings schemes, the amount can range from ₹250 to ₹1,000. You can also invest small amounts in these schemes.

5. Income assurance

In today’s time, people are investing in risky places like share market and mutual funds. Whereas small saving schemes provide assurance of income. With a fixed interest, you know in advance how much amount you will get on maturity. Meaning you will be guaranteed to get income in the future.

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Saving Scheme! Government has changed the rules of investment in Senior Citizen Savings Scheme, check details

Pravesh Maurya — Tue, 14 Nov 2023 23:18:49 +0000

Senior Citizen Savings Scheme. The government has made some changes in the Senior Citizen Savings Scheme (SCSS), the highest interest earning scheme among small savings schemes.

This change will provide more convenience to senior citizens to invest in this scheme. The government is currently offering 8.2 percent interest in this scheme.

In such a situation, if you are planning to invest in this scheme, then before that definitely know about the changes in this scheme. All these changes have come into effect from November 9. Let us know about the changes in these schemes one by one.

More time to invest retirement benefits

Retired persons above 55 years of age but below 60 years will now get three months time to open SCSS account, which was earlier one month.

Retirement benefits means provident fund, retirement or death gratuity , leave encashment etc. received by a person after retirement.

Government employee’s spouse will invest

The government has further eased the rules for investing in SCSS for spouses of government employees who die while on duty. According to the new rules, now spouses of government employees can also invest in the scheme.

However, this investment will be allowed only if the deceased government employee has attained the age of 50 years and has died while in service.

Deduction on premature withdrawal

According to the new rules, if the account is closed before completion of one year of investment, one percent of the deposited amount will be deducted.

Earlier, if the account was closed before the expiry of one year, the interest paid on the amount deposited in the account was recovered from the amount deposited and the entire balance was paid to the account holder.

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New Rules For Savings Scheme: Interest calculation on premature closure of PPF account changed

Pravesh Maurya — Tue, 14 Nov 2023 06:07:58 +0000

The government has made major changes in small savings schemes including PPF and Senior Citizen Saving Scheme. Recently there has been an increase in investment in small saving schemes. Small Savings Schemes are also called Post Office Schemes.

For some time now, it has been continuously seen that people are investing a lot of money in Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS) and Time Deposit Scheme. Therefore, the government has relaxed some rules by issuing a gazette notification. At present the government runs 9 types of small savings schemes.

According to the notification, a person can open an account under the Senior Citizen Savings Scheme within three months from the date of retirement. This notification was issued on November 9. According to this, interest will be given at the fixed rate for the scheme on the date of maturity or extended maturity.

Under the new rules, you will get 3 months time to open an account under Senior Citizens Savings Scheme (SCSS). At present this period is only for one month. According to the notification, a person can open a SCSS account within three months from the date of retirement. This gazette notification was issued on 9 November. According to this, interest will be given at the fixed rate for the scheme on the date of maturity or extended maturity.

The rules for premature withdrawal under the National Savings Time Deposit Scheme (NSTDS) have been changed. If the amount deposited in an account with a tenure of 5 years is prematurely withdrawn after 4 years from the date of account opening, interest will be payable at the rate applicable to Post Office Saving Scheme. According to the current rules, in the above situation, interest is given at fixed rate for 3 years savings account.

On many of these schemes, you can get exemption of up to Rs 1.5 lakh under Section 80C of Income Tax. People are investing heavily in small savings schemes like Senior Citizen Savings Scheme and Mahila Samman Savings Certificate. Investment in these schemes has reached record levels. Investment in these schemes increased 2.6 times compared to last year to Rs 74,675 crore. The government had increased the annual investment limit in these schemes to Rs 30 lakh.

In view of this, the government is now also considering post tax returns while deciding the quarterly rates, especially for small savings schemes like PPF. By the end of September, investment in small savings schemes increased 2.6 times compared to last year to Rs 74,675 crore. It was Rs 28,715 crore in the same period last year. The government had doubled the annual investment limit in these schemes to Rs 30 lakh. Only after this, investment in these schemes has increased.

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Small savings schemes! Big decision of Modi government, rules changed for these small saving schemes including PPF

Pravesh Maurya — Sat, 11 Nov 2023 03:19:04 +0000

Under the new rule of the Central Government, there will be a time of three months to open an account under the Senior Citizens Savings Scheme, whereas at present this period is of one month.

The government has relaxed rules for some small savings schemes, including the Public Provident Fund (PPF) and Senior Citizens Savings Scheme. Under the new rule, there will be three months time to open an account under Senior Citizen Savings Scheme, whereas at present this period is one month.

What’s in the notification: According to the notification issued by the government, a person can open an account under the Senior Citizens Savings Scheme within three months from the date of retirement. Interest will be paid at the rate fixed for the scheme on the maturity date or extension maturity date. Some changes have been made regarding premature closure of accounts in the case of Public Provident Fund i.e. PPF. The notification said that this scheme may be called the Public Provident Fund (Amendment) Scheme, 2023.

Changes in these schemes also: Apart from this, some changes have been made in the rules of premature withdrawal under the National Savings Fixed Deposit Scheme. If the amount deposited in an account with a tenure of five years is prematurely withdrawn after four years from the date of account opening, interest will be payable at the rate applicable to Post Office Savings Account.

As per the existing rules, in such a situation, interest is given at the acceptable rate for a three-year fixed deposit account. Let us tell you that small savings schemes are managed by the Department of Economic Affairs under the Finance Ministry.

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Big announcement of the Finance Minister, Senior citizens will get the benefit of 20500 every month

Pravesh Maurya — Fri, 21 Jul 2023 05:05:00 +0000

Senior Citizen Saving Scheme Calculator: If you also want higher returns on your money, then this news is useful for you. Bank FD and small savings schemes are two low risk investment options. The interest rate available in the Senior Citizen Saving Scheme is currently at a record level. You can get more benefit by considering this option for investment. For the Senior Citizen Savings Scheme, the interest rate from July to September has been fixed at 8.2 percent.

Investment limit increased from 15 lakh to 30 lakh

In this budget, Finance Minister Nirmala Sitharaman had made a big announcement for senior citizens along with implementing the new tax regime. Under this, the investment limit in Senior Citizen Savings Scheme (SCSS) was increased from Rs 15 lakh to Rs 30 lakh.

With this change, senior citizens are getting more return on investment than before. In the quarter ending September, the interest rate has been increased to 8.2 percent. It was 8 percent in the previous quarter. Before that, its interest rate was 7.6 percent and the investment limit was Rs 15 lakh.

Earlier there was a benefit of 9500 every month, due to increasing the maximum investment limit and increasing the interest rate, the income earned by senior citizens every month in the form of interest has more than doubled from before. Earlier, investing Rs 15 lakh in the scheme fetched Rs 20.70 lakh on maturity at 7.6 percent interest. Which used to be 1.14 lakhs annually and 9500 rupees monthly.

Now there will be a benefit of Rs 20500.

On increasing the investment limit to Rs 30 lakh from the Finance Minister and increasing the interest rate to 8.2 percent, on the maturity of five years, a total of Rs 42.30 lakh will be received with interest of Rs 12.30 lakh. If calculated on its annual basis, then it becomes 2 lakh 46 thousand rupees and 20500 rupees on monthly basis. That is, after the announcement of the Finance Minister, now senior citizens will get Rs 20,500 as compared to the earlier Rs 9,500.

What is the scheme

‘Senior Citizen Savings Scheme’ is run by the government for the elderly citizens of the country. The purpose of starting this scheme is to provide financial help to retired persons. Under the scheme, senior citizens get money in the form of interest every month.

In the Tax Rebate

Senior Citizen Savings Scheme of up to 1.5 lakh, the government revises the interest rate on a quarterly basis. In this, both husband and wife can open a single account or joint account with each other. The special thing is that under Section 80C of the Income Tax Act, you can get tax rebate of up to Rs 1.5 lakh on investing in it.

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Post office schemes: Have you invested in post office schemes? Now you have to give this proof, otherwise…

Pravesh Maurya — Tue, 04 Jul 2023 13:02:58 +0000

Small Savings Schemes: Some changes have been made in the rules for people investing in post office schemes. Under this, it is now mandatory to provide some necessary documents and proofs to such depositors.

In this era of high interest rate, small savings schemes ie Small Savings Schemes are a better and attractive option. But, now the government has decided to keep an eye on those investing in such schemes. Actually, the central government has taken such a step to avoid any kind of money laundering and terrorist financing activities. This is the reason why it is mandatory for India Post to complete various types of documentation regarding investment in these schemes.

This information has been given in a recently released circular. According to this circular, customers opening accounts in India Post will be divided into three categories. These are divided into three categories – low, medium and high risk categories.

Which investors in which category?

Those investors will be included in the low-risk category, whose maturity amount of investment or certificate is Rs 50,000 or less or they have balance up to Rs 50,000 in their existing savings account. Investors investing between Rs 50 thousand to Rs 10 lakh will be included in the medium-risk category. Whereas, those investors will be in the high-risk category, who have invested more than Rs 10 lakh in these schemes.

Investors of all three categories will have to submit 2 passport size photographs, one self-attested copy each of Aadhaar card and PAN card. If the home address is not the current address, investors will have to submit any one of the 8 types of documents. These documents are documents like driving license, utility bills. In case of joint holders, KYC of both the investors will be completed.

It will be mandatory to give income proof

It will be mandatory for high-risk category investors to secure the source of funds. In this, bank statement, income tax return, succession certificate, proof of gifts or sale, will or any such document that can know the source of the invested amount. If the depositor is a minor, then KYC and income proof of the Guardian will also be required.

It will be mandatory for low-risk depositors to complete KYC every 7 years, medium-risk category depositors every 5 years and high-risk category depositors every 2 years.

Who needs to submit Aadhaar-PAN

Existing depositors of India Post will have to submit a copy of their Aadhaar before 30 September 2023. If the depositors have not submitted the copy of PAN, then the copy of PAN will have to be submitted within two months of the completion of any of the conditions mentioned below.

If his account balance is more than Rs.50,000, if the aggregate amount of all his bank accounts exceeds Rs.1 lakh in any one business year or the transfer or withdrawal amount from his account in any one month is more than Rs.10,000. If this depositor does not submit these documents, then his account will be closed.

Postal authorities have been given the responsibility of reporting cash transactions of Rs 10 lakh or more. Apart from this, responsibility has also been given to report cash transactions of Rs 10 lakh or less every month from time to time.

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Small savings schemes Rate Increased: Good news! Government Released new interest rates for small savings schemes today

Pravesh Maurya — Fri, 30 Jun 2023 12:25:12 +0000

Small Savings Scheme Interest rates: The government has given good news on Friday to those investing in small savings schemes. The interest rates of small savings schemes have been changed and the government has increased the interest rate for Q2.

The government has given good news on Friday to those investing in Small Savings Scheme Interest rates. The interest rates of small savings schemes have been changed and the government has increased the interest rate for Q2. For July-September, the government has increased these small savings schemes by 10-30 bps.

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Good News! MSSC account can be opened in private banks also, know who can take advantage of the scheme

Pravesh Maurya — Wed, 28 Jun 2023 03:51:29 +0000

Like other small savings schemes, the government has also approved opening of Mahila Samman savings account in designated private banks. Like other small savings schemes, Mahila Samman Savings Account can also be opened in designated private banks.

The government has increased the scope of small savings schemes. Now, like other small savings schemes, Mahila Samman Savings Certificate accounts can also be opened in designated private banks. According to the notification issued by the Ministry of Finance, the facility of investment in Small Savings Schemes, Mahila Samman Samman Savings Letter will be available from public sector banks as well as ICICI, Axis, HDFC and IDBI Bank. Earlier also the facility of investment in small savings like PPF, SSY was available in designated private banks.

According to the notification issued by the government, the Finance Ministry has instructed the banks that there should be a dedicated software in the bank for accounting and operation of National Savings Schemes. In this, banks will also have to ensure that there is a special function for each scheme in the software. Banks can operate all the schemes in online mode and in branches with all core banking solutions. However, they will have to ensure adequate security arrangements.

Who can open MSSC

Mahila Samman Savings Letter Scheme (Mahila Samman Savings Scheme 2023) has started from 1 April. The scheme was announced by Finance Minister Nirmala Sitharaman in Budget 2023. This is a deposit scheme which has been started especially for women with better interest rates. Any woman can open her account under Mahila Samman Savings Scheme. For girls below 18 years of age, their parents can open this account. That is, women of all ages can take advantage of this scheme.

What are the benefits of the scheme?

Mahila Samman Bachat Patra Yojana is a scheme to motivate women to save. In this scheme, women get interest at the rate of 7.5 percent. The scheme offers the benefit of compounding interest and the interest is calculated on a quarterly basis. In such a situation, through this scheme, women get a lot of profit on the amount deposited. This post office scheme is currently valid for two years. Investments can be made in this till 31 March 2025. Any woman can invest in it from Rs 1000 to Rs 2 lakh.

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Post Office: Interest of 8.2% has started in the government scheme from today. Private Bank’s FD is behind.

Pravesh Maurya — Sat, 10 Jun 2023 15:29:06 +0000

Post Office Scheme: Today, from April 1, the government has issued a change in interest rates for investors investing in small savings schemes.

Looking at the new savings schemes, now you will easily start getting the benefit of 8% in the government savings scheme. You can take advantage of all these schemes from any government or post office bank as well as national bank.

7.7% interest option introduced.

Government’s investment plan National Savings Certificate has been increased by 0.7%. Now for the new interest rate, you will have to invest between April 1 and June 30, 2023, and you will be provided an interest of 7.7% for this, let us tell you here that this interest rate was just 7% before April 1.

8% interest option introduced.

The change in the interest rates of Sukanya Samriddhi Yojana, the most known and recognized small savings scheme in India, has come into force from today. Changes in the interest rates of Sukanya Samriddhi Yojana have been increased by 0.4%.

People investing in Sukanya Samriddhi Yojana will now be provided an interest rate of 8%. Here you should be aware that earlier the interest rate of 7.6% was being made available on Sukanya Samriddhi Yojana.

Option presented with 8.2%.

If any person in the house comes in the senior citizen category, then the Government of India has also revised the interest rates for them. The interest rate for senior citizens, which was earlier 8%, has now been increased to 8.2%. To get this interest, you have to deposit your investment under the Senior Citizen Savings Scheme.

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Sukanya Samriddhi Yojana: Invest Rs 12,500 every month, you will get Rs 63,00,000 on maturity, see full details

Pravesh Maurya — Wed, 03 May 2023 11:47:34 +0000

Sukanya Samriddhi Yojana is an investment scheme that not only allows investors to save tax but also secures the financial future of their girl child. SSY scheme is completely risk free as it is backed by the government, and it offers better returns than other small savings schemes.

The government has increased the interest rate on Sukanya Samriddhi Yojana (SSY) from 7.60 per cent to 8 per cent, which is the return that debt mutual fund investors expect on their investments for the long term.

New Pension Scheme: Invest 3 thousand rupees every month, you will get 44.35 lakh rupees on maturity

Guardian can open SSY account in the name of girl child below 10 years of age. This account can be opened till the girl child turns 18. Maximum of two girl children in a family can open the account; If there are twins or triplets, more than two accounts can be opened. The fact that an account can be opened in any bank or post office and can be easily transferred to any other bank branch or post office is a significant advantage of the SSY scheme. The investment period of this project is 15 years and maturity period is 21 years.

If a person invests Rs 12,500 per month over 12 installments and gets 7.6% return on investment on maturity, they will be able to utilize their entire income tax benefit of Rs 1.5 lakh under Section 80C in a financial year Will be

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When the girl child turns 21, the investor can withdraw all his investment completely and the SSY will mature with a value of approximately 63,79,634. Means the girl will become a millionaire at the age of 21.

New rules of Aadhaar-PAN, shock on interest, know how much PPF scheme has changed now

Pravesh Maurya — Tue, 04 Apr 2023 06:29:45 +0000

The government has increased interest rates on most small savings schemes for the April-June quarter of FY 2023-24. However, the interest rate on PPF remains unchanged at 7.1 per cent for the April-June quarter.

In the new financial year, the rules of Public Provident Fund (PPF), popular among employed people, have changed. Now PAN and Aadhaar number have been made mandatory for investors investing in this scheme.

Earlier investment was allowed without submission of Aadhaar number. Apart from PPF, these new investment rules will also be applicable in other small savings schemes.

Interest blow: The government has increased interest rates on most small savings schemes for the April-June quarter of FY 2023-24. However, the interest rate on PPF remains unchanged at 7.1 per cent for the April-June quarter. The interest of this scheme has not increased for almost 12 quarters.

What is PPF Scheme: This scheme comes under Small Savings Scheme. Under this scheme, you can start investing from Rs.500. A maximum of Rs 1.5 lakh can be invested per year. The scheme has a lock-in period of 15 years. You can withdraw money before the lock-in period subject to certain conditions.

Tax exemption also: In this scheme, you can also get tax exemption under the old tax regime. Let us tell you that loan facility is also available on PPF. At the same time, if you want the benefit of more interest under the scheme, then the amount will have to be deposited between 1st to 4th of the month. This will also entitle you to the interest for the month you start the investment.

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Finance Minister issued order! Big change in the rules of PPF-Sukanya Samriddhi, know new rules instantly

Pravesh Maurya — Sun, 02 Apr 2023 09:28:40 +0000

PAN-Aadhaar Card: If you also invest in Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), Mahila Samman Yojana and Post Office keeping in mind the future of the family, then this news is of your use.

The rules have been changed by the government for those investing in these schemes. In all these schemes run by the government, PAN (PAN) and Aadhaar (AADHAAR) have been made necessary for the investors.

Must submit Aadhaar Enrollment Number

In the notification issued by the Finance Ministry, it was said that these changes will be used as KYC for the Small Savings Scheme issued by the government. Earlier, you could deposit in all these savings schemes even without Aadhaar number. On behalf of the Finance Ministry, it was said that before making any kind of investment, investors will have to submit the Aadhaar enrollment number. Also, PAN card will have to be shown for investment above a limit.

Aadhaar number will have to be given within six months.

If you do not have Aadhaar while opening an account for post office savings scheme, you will have to submit proof of enrollment slip for Aadhaar. Also, to link the investor with the investment of ‘Small Savings Scheme’, the Aadhaar number will have to be given within six months from the date of opening the account. Now you will need these documents while opening the Small Savings Scheme account-

– Passport size photo
– Aadhaar number or Aadhaar enrollment slip
– PAN number, if existing investors do not submit PAN card and Aadhaar card by 30 September 2023, then their account will be banned from 1 October 2023.

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PPF, NSC Account Holders Alert! Government issued notification regarding all small savings schemes including PPF, NSC, know details

Pravesh Maurya — Sat, 01 Apr 2023 11:05:19 +0000

KYC Mandatory For Small Saving Schemes: If you have invested in small savings schemes of the post office, then the government has issued a notification for you. The Finance Ministry has said in the notification that now it is mandatory to give Aadhaar card and PAN card under PPF, NSC, SSY and other small savings schemes.

If these documents are not given then your account will be closed and you will not be able to access it. If Aadhaar and PAN card is not deposited in Public Provident Fund, Senior Citizen Saving Scheme, Sukanya Samriddhi Yojana, Mahila Samman Scheme and others, then investment, withdrawal and other things will be restricted.

The government has issued this notification on 31 March 2023. Till now investment in these schemes could be done without Aadhaar, but from now on Aadhaar card and Aadhaar enrollment slip will have to be given.

What will be the alternative if there is no Aadhaar

According to the notification issued by the government, it is mandatory to give Aadhaar and PAN card, but if you do not have the Aadhaar number, then you can submit the Aadhaar enrollment slip or enroll number. It is mandatory to provide Aadhaar within six months of account opening.

What will happen if you do not submit Aadhaar

If the Aadhaar number is not provided within 6 months, then your small savings scheme account will be frozen and will not be opened until the Aadhaar number is provided. After submitting the Aadhaar number, your account will be reopened.

Mandatory to submit PAN within two months

The government has said in its notification that PAN or Form 60 will have to be given at the time of account opening only. If not given then it will have to be made available within 2 months. If the deposit is not made, the investment account will be frozen. It has been said in the notification that the post office or bank can demand any other document.

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Good news! Government has increased the interest rates of SSY, KVP, NSC and PPF schemes, check new rate

Pravesh Maurya — Fri, 31 Mar 2023 13:28:19 +0000

There is good news for those investing in Small Savings Schemes. The Central Government has increased the interest rates on Small Savings Schemes. Interest rates have been increased for Sukanya Samriddhi Yojana, National Savings Certificate (NSC), Kisan Vikas Patra (KIsan Vikas Patra), Post Office Deposit Schemes and Senior Citizen Saving Schemes.

.Is. The interest rate of these savings schemes has been increased by 10 to 70 basis points. However, there has been no change in the interest rates of PPF. The interest rate of Sukanya Samriddhi Yojana has been increased from 7.6 percent to 8 percent. The interest on Monthly Income Account has now increased from 7.1 per cent to 7.4 per cent and on Kisan Vikas Patra from 7.2 per cent to 7.5 per cent.

Those investing in Senior Citizen Savings Schemes will now get 8.2 per cent interest instead of 8 per cent.

Interest rates on time deposits also increased

The government has also increased the interest rates on time deposits of one, two, three and five years. Now one year time deposits will get 6.8 percent interest. Till now 6.6 percent interest was being received. 6.9 percent interest will be available on two-year time deposits. Earlier this rate interest rate was 6.8 percent.

Similarly, the interest on three-year time deposits has been increased from 6.9 per cent to 7.0 per cent. Investors will now get 7.5 per cent interest instead of 7 per cent on 5-year time deposits.

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PPF, Sukanya Yojana: Preparing for major changes in small savings schemes like PPF, Sukanya, this card will not be required

Pravesh Maurya — Tue, 28 Mar 2023 14:05:44 +0000

Small savings scheme latest update: Preparations are underway for big changes in Small Savings Scheme like Public Provident Fund ie PPF, Sukanya Samriddhi.

Actually, the central government is going to relax the process of deposit or investment under the small savings scheme. The purpose of this relaxation is to connect a large number of people with small savings schemes. The people of rural India will be benefited the most.

What is going to change

According to media report, an official associated with the Finance Ministry said that first of all people will be allowed to invest in small savings schemes using Aadhaar instead of PAN card. This exemption will encourage people in rural areas to take advantage of small savings schemes. Let us tell you that a large number of people in India have Aadhaar cards as compared to PAN cards.

What the officer said

KYC norms for small savings schemes have been prescribed for Jan Dhan accounts. Apart from this, the government will also simplify the process related to the claim on the deposit amount of the deceased investor so that there is no dispute. Apart from this, the nomination process will be further simplified.

Interest rate to be decided

Let us tell you that this news has come at a time when the government is about to take a decision on the interest rate of small savings schemes. Explain that the government considers the interest rate of small savings schemes on a quarterly basis.

In this episode, a decision will be taken on the interest for the first quarter of the new financial year i.e. from April to June. There has been no change in the interest rate on popular schemes like Sukanya and PPF for a long time.

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Post Office Scheme Interest Rate Increased: Government has increased the interest on many small savings schemes of post office from today

Pravesh Maurya — Mon, 23 Jan 2023 08:28:51 +0000

The government has increased the interest on many small savings schemes of the post office from January 1, 2023. Due to this, the National Savings Monthly Income Account is now getting 7.1% annual interest.

Through this scheme, you can arrange an income of Rs 5,500 every month for yourself. We are telling you about this scheme, so that you too can arrange monthly income for yourself by investing in it. Earning 5.5 thousand rupees every month, getting 7.1% annual interest in it. The annual interest is divided into 12 months and you get that amount every month. If you do not withdraw the monthly money, it will remain in your post office savings account and you will get further interest by adding this money along with the principal amount.

Suppose if you invest 4.5 lakh rupees under this scheme, then now you will get interest of 33 thousand rupees annually according to the interest of 7.1% per annum. On the other hand, if you invest 9 lakh in it under joint account, then you will get interest of 66 thousand years. If it is divided equally in 12 months, then you will get a return of Rs 5,500 every month. If the return is not withdrawn, interest is earned on that too.

Investment has to be made for 5 years, its maturity period is 5 years. After 5 years you can reinvest your money in it. That is, on completion of the scheme, your entire deposited capital is returned, which you can reinvest in this scheme and maintain a source of monthly income.

Who can open the account?

This account can also be opened in the name of a minor and joint account in the name of 3 adults. An account can also be opened in the name of a minor above 10 years of age under the supervision of parents.

How can I open an account in this?

For this, first of all, a savings account has to be opened in the post office.
After this, a form will have to be filled for National Savings Monthly Income Account from the post office.
Deposit cash or check for the specified amount along with the form to open the account.
After this your account will open.

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Sukanya Yojana Rules Change: The rules of Sukanya Samriddhi Yojana have changed from today, check new rule immediately otherwise…

Pravesh Maurya — Sat, 21 Jan 2023 13:28:08 +0000

Sukanya Samriddhi Yojana is very popular among the small savings schemes of the government. This scheme is the first choice of the middle class family. There are many rules of any scheme, but we only know about some basic rules.

Today we are going to tell about such a rule related to Sukanya Yojana, about which very few people will know. Let us tell you that you can take advantage of Sukanya Yojana even on three daughters, but there are some rules…

The government is currently paying an interest of 7.6 per cent on this, which is more than many FDs. A good fund can be deposited till maturity by investing in it for the expenses of daughter’s education or marriage. However, this account can be opened only for 2 girls of a family. But there is a situation where this account can be opened for 3 daughters.

Let us tell you that in the Sukanya Yojana till now the benefit of tax exemption under 80C was available only on the account of two daughters. Tax exemption was not available in case of third daughter. But, now the rules have been changed.

Know what are the rules

If there are two twin daughters after one daughter, then a provision has been made to open an account for both of them as well. Means money can be deposited in the name of three daughters simultaneously in Sukanya Yojana and tax exemption can be claimed on it.

Gets 7.6% annual interest

Sukanya Samriddhi Yojana’s interest rates are higher than bank FDs and it gives better returns than other small savings schemes. At present, 7.6 percent interest is being received in SSY.

Where will the account be opened?

Account under Sukanya Samriddhi Yojana can be opened in any post office or authorized branch of commercial branch. At the age of 21, daughters can withdraw money from this account.

How much can invest?

Under the Sukanya Samriddhi Yojana in the current fiscal year, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually.

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Post Office Department Issued New guidelines for the beneficiaries of PPF, NSC and Sukanya Samriddhi

Pravesh Maurya — Fri, 13 Jan 2023 05:28:26 +0000

Post Office Small Saving Scheme: Under the small savings scheme, the Department of Posts has made new announcement regarding Public Provident Fund (PPF), Sukanya Samridhi Yojana, NSC, Senior Citizen Saving Scheme and other small savings schemes. Guidelines have been issued. The post office has talked about the benefits of the customers under this guideline.

It has been said by the postal department that many post offices are not settling the death claims on time. Also, they are not following the necessary rules for death claim. In such a situation, the postal department has directed to settle the death claim immediately and said that any such case should be settled within the time limit.

These instructions have to be followed for death claim

The department said that the post office will have to ensure settlement of deceased claim cases within the prescribed time limit. In the information issued by the Department of Posts on January 9, 2023, it has been said that it is necessary to follow certain rules for timely disposal of death claim cases.

KYC documents should be there during the death claim and it is necessary to get it verified in the post office.
Signatures of witnesses are also required on the copy of KYC documents. If the signature is not there, then the witness will have to go to the post office.
It is also necessary to provide the claimant’s signature, bank account and other documents.
It is mandatory to provide all the documents sought to settle the death claim, otherwise the money may stop.
Death claim can be made in just one day in case of nominee and within seven days in other case.

Legal documents to be given

If the amount issued under any scheme is more than five lakh rupees and there is no nomination or nomination in that account, then it is necessary to give legal documents issued by the court. However, if the amount is five lakh rupees, then there is no need to provide any legal document for the death claim.

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Interest Rate: Government has increased the interest rates of small savings schemes

Pravesh Maurya — Sat, 31 Dec 2022 04:00:31 +0000

Investment Schemes: Before the New Year 2023, the Narendra Modi government has given a big gift to the general public.

The government has increased the interest rates on National Savings Certificate, Post Office Fixed Deposit, Senior Citizens Savings Scheme from January 1. There has been no change in the interest rates of PPF and Sukanya Samriddhi Scheme. This increase has been done in the interest rates for the January-March quarter. The interest rate on 1-year savings scheme has been increased to 6.6%, which was earlier 5.5%. While the 2-year scheme will get interest at the rate of 6.8%, which was earlier 5.7%. The interest rate on the 3-year scheme has increased to 6.9%, which was earlier 5.8%.

At the same time, interest will be given at the rate of 7% on the 5-year scheme, which was earlier 6.7 percent. The interest rate on Senior Citizen Savings Plan has now become 8%, which was earlier 7.6%. The interest rate on Monthly Income Plan has increased to 7.1%, which was earlier 6.7%.

Apart from this, interest will now be available at the rate of 7.2 percent on Kisan Vikas Patra. At the same time, the interest rate on National Savings Certificate has been increased to 7%, which was earlier 6.8%. The Finance Ministry issued a circular on Friday evening, stating that interest rates on these small savings schemes have been increased by up to 110 basis points for the January-March 2023 quarter.

How is the interest rate decided on small savings schemes?

The government reviews the interest rates on small savings schemes every quarter. The formula for calculating the interest rate for small savings schemes was given by the Shyamala Gopinath Committee. The committee suggested that the interest rates of various schemes should be 25-100 bps higher than the yield of government bonds of similar maturity.

When was the last time interest rates increased

After about four years, the government had increased the interest rates of some small savings schemes in the last quarter. The interest rates of three small savings schemes were increased by 10 bps to 30 bps for the October-December 2022 quarter.

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Sukanya Samriddhi Yojana Rate Increased: Government may increase interest rates on Sukanya Samriddhi Yojana, know its details

Pravesh Maurya — Thu, 29 Dec 2022 06:28:50 +0000

Small Saving Schemes Interest Rate Hike: If you invest in small savings schemes of post office including PPF, Sukanya Samriddhi Yojana, then you are going to get great news. You can get big returns on your hard earned money and investment.

After two days i.e. on Friday, December 30, 2022, the central government can announce an increase in the interest rates of small savings schemes. On December 30, after reviewing the interest rates of these schemes, the Finance Ministry can announce to increase it.

The Finance Ministry will review the interest rates of small savings schemes for the fourth quarter of 2022-23 from January to March, in which it is believed that on savings schemes like PPF and Sukanya Samriddhi Yojana (NSC) An increase in interest rates can be announced. Interest rates can also increase on other savings schemes of the post office including these savings schemes.

It is believed that the Finance Ministry may announce an increase in interest rates by 0.50 percent on all schemes of small savings schemes. The government’s 10-year bond yield has gone up from 6.04 per cent to above 7.25 per cent in 12 months. According to this formula, the interest rate on PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme can be increased by 50 basis points from the current level.

Why interest rates can increase

RBI has announced the increase in the repo rate for the fifth consecutive time on December 8, 2022. In 2022, the repo rate has been increased from 4 percent to 6.25 percent. But the government has not increased the interest rates of many small savings schemes. There has been no change in the interest rates of PPF, Sukanya Samriddhi Yojana and NSC. 7.1 percent on Public Provident Fund, 6.8 percent on NSC i.e.

National Savings Certificate, 7.6 percent interest on Sukanya Samriddhi Yojana remains the same. After increasing the repo rate by 2.25 percent, the interest rates of these schemes can be increased by the government. Considering these savings schemes as safe, the urban rural common Indian invests. These are the people who rely on investing in these schemes while staying away from the ups and downs of the stock market.

Interest rates were increased on these small savings schemes

In the third quarter only the interest rate of Kisan Vikas Patra was increased from 6.9 per cent to 7 per cent but the maturity period was reduced from 124 months to 123 months. The interest rate on Senior Citizen Savings Scheme was increased from 7.4 per cent to 7.6 per cent.

Instead of 6.6 per cent on Monthly Income Account Scheme, 6.7 per cent instead of 5.5 per cent on post office two-year fixed deposit scheme, 5.7 per cent instead of 5.5 per cent on 3-year fixed deposit scheme was made 5.8 per cent. But there was no change in the interest rates of PPF, Sukanya Samriddhi Yojana and NSC.

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PPF Maturity Rule Change: Big news! Now you can’t withdraw money in this scheme for so many years

Pravesh Maurya — Sat, 24 Dec 2022 09:02:30 +0000

PPF Login: Many schemes are being run by the Central Government for the welfare of the people. Public Provident Fund (PPF) is also included in these schemes. PPF is one of the most popular small savings schemes, but many investors are not aware of its features.

Also, people have less knowledge about the tenure of this savings scheme. In such a situation, today we are going to tell many things regarding the tenure of PPF.

PPF Maturity Rule

PPF is such a scheme being run by the government, in which people can save, invest and also save tax. PPF is a long term investment with a tenure of 15 years but that does not mean that your money gets locked in for that long. The period of 15 years is from the day of opening of the account. Tenure of 15 years means that the maturity of the PPF account will be for 15 years from the day the PPF account is opened.

PPF Balance Check

However, if some fund is to be withdrawn from PPF before maturity, then that can also be done. Partial withdrawal is allowed from the PPF account after the sixth year. That’s why some investors use PPF as an emergency fund. PPF allows investors partial withdrawal in case of emergency. From the PPF account after the sixth year, an investor can withdraw up to 50% of the balance at the end of the fourth year or 50% of the account balance at the end of the financial year preceding the year of withdrawal.

PPF Amount On the other hand, if the account is extended with additional contribution, then the withdrawal limit can be 60% of the account balance at the beginning of the extended period. However, if the fund is to be withdrawn before maturity, it can be withdrawn only on emergency. PPF operates under a mandatory lock-in period of 15 years.

In such a situation, some funds can be withdrawn from the PPF account after the completion of the 5th financial year from the year in which the PPF account was opened. For example, if the PPF account was opened in February 2015, then withdrawal from PPF can be done from the financial year 2020-21. At the same time, partial withdrawal is allowed only once in every financial year.

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Interest Rate Increased: Those who invest money in Sukanya Samriddhi Yojana and PPF will get good news soon! Interest rate may increase on new year

Pravesh Maurya — Mon, 12 Dec 2022 09:02:59 +0000

If you also invest money in small savings schemes like Sukanya Samriddhi Yojana (SSY), Public Provident Fund (PPF), c(NSC) and Kisan Vikas Patra (KVP), then there is good news for you.

After the huge increase in the repo rate by the Reserve Bank of India this year, it is expected that the government may increase the interest rates of small savings schemes. RBI has increased the repo rate by 225 basis points i.e. 2.25 percent in five times in the year 2022. Only last week, the central bank had increased the repo rate by 35 basis points.

The government has to revise the interest rates of small savings schemes at the end of the year 2022. The government will decide the interest rates for the January-March 2023 quarter. The purpose of small savings schemes is to encourage common people to save. There are three categories of small savings schemes – savings scheme, social security scheme and monthly earning scheme.

These are the small savings schemes

The savings scheme category includes 1-3 year time deposit and 5 year recurring deposit. Apart from this, savings certificates like National Savings Certificate (NSC) and Kisan Vikas Patra are also included in this. Social security schemes include Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme. Monthly Income Savings includes Monthly Income Plan.

Interest rates were increased last time

The interest rates of small savings schemes are revised every quarter. For the current quarter, the government had increased the interest of Kisan Vikas Patra (KVP), Senior Citizen Saving Scheme, Monthly Income Scheme and savings schemes for 2 to 3 years by 10-30 basis points i.e. from 0.10 to 0.30 percent. At the same time, there was no change in the interest rates of PPF, Savings Scheme, National Savings Certificate and Sukanya Samriddhi Yojana.

Right now this much interest is being received

4% interest is being received annually on Post Office Savings Deposit. 5.5% interest is available on 1 year time deposit and 5.7% interest on 2 year deposit. At the same time, 5.8 percent interest is currently being given on 3-year time deposits. 6.7 percent interest is being received on FD of 5 years. Investors are getting 5.8 percent interest on five-year recurring deposit (RD). Investors who have invested in National Savings Certificate (NSC) and Sukanya Samriddhi Yojana are being given interest of 6.8 percent and 7.6 percent respectively. 7.1 percent interest is being received on the money invested in PPF.

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Post Office Issued New Plan: You will get 2500 rupees every month in this post office scheme, know full details immediately

Pravesh Maurya — Thu, 01 Dec 2022 07:29:54 +0000

Post Office Monthly Income Scheme: If you invest in post office schemes then this information is very important for you. In this post office scheme, you will have to pay only once, after that you will continue to get Rs 2500 as pension every month .

After investing in this scheme, you will not need to reach out to anyone. After retirement, if you deposit some part of your accumulated capital like Rs 4.50 lakh in Post Office Small Savings Scheme Monthly Income Scheme (POMIS). Instead of Rs 4.50 lakh, a fixed income of about Rs 2500 will start every month. If you also have a lump sum amount, then you can earn monthly income through this post office scheme. You can also get double benefit through joint account.

The Monthly Income Scheme of the Post Office gives investors an income opportunity every month. This is a special scheme, where you can earn every month by investing lump sum money. In this scheme, your deposited money will be safe and you can withdraw the entire amount after 5 years. Under the MIS scheme, the facility of opening single and joint accounts is available. Many people are taking advantage of this scheme for pension after retirement. Being a post office scheme, it is completely safe.

Will get more interest than before

The central government has increased the interest rates of some small savings schemes for the December quarter. In which the Post Office Monthly Income Scheme is also included. The government has increased the interest rate on this monthly income scheme from 6.6 per cent to 6.7 per cent. Due to this, the monthly income of those who deposit money in this scheme will increase.

Income can be Rs 5025 every month

In POMIS, a maximum of Rs 4.50 lakh can be deposited through a single account and Rs 9 lakh through a joint account. The interest under the scheme has now become 6.7 per cent per annum. If you have deposited 9 lakh rupees in the scheme, then according to the interest rate of 6.7 percent per annum, the total interest of one year will be 60300 rupees. This amount will be distributed in 12 months of the year. In this way, the interest of every month will be around 5025 rupees.

On the other hand, if you deposit Rs 4,50,000 lakh through a single account, then the monthly interest will be Rs 2513. 3 adults can also join the joint account. But the maximum limit of investment is Rs 9 lakh.

Advantages of Post Office MIS Scheme

The duration of this scheme is 5 years, but after 5 years it can be extended according to the new interest rate.
Under the scheme, you are getting better returns as compared to bank FD.
If you do not withdraw the monthly money, it will remain in your post office savings account and you will get further interest by adding this money along with the principal amount.

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Benefit Of Post Office Saving Account ! All these benefits are available on post office savings account, know details

Pravesh Maurya — Tue, 18 Oct 2022 09:28:18 +0000

The government has hiked interest rates for some small savings schemes for the October-December quarter of the financial year 2023.

However, there has been no change in the interest rates of many post office savings schemes including Public Provident Fund (PPF), National Savings Certificate (NSC).

Over the years, post offices have designed several small savings schemes to meet the needs of investors, mostly small towns and rural areas. At present, an interest rate of 4 per cent per annum is being offered in personal and joint post office savings accounts. Also there is no tax up to Rs 10,000 in the interest paid in a financial year.

For savings accounts with check book access, generally a minimum balance of Rs 500 has to be maintained in the account. Nominee has to be created while opening the account. Conversion of single account into joint is not allowed. A post office allows a minimum withdrawal of Rs 50 in a savings account. There should be a minimum of Rs 500 in the account and withdrawals are not allowed on the amount less than this. If the balance is less than Rs 500, a fine of Rs 50 is levied.

Interest is calculated on the minimum amount due between the 10th and the end of the month. If the balance in the account on the 10th and last day of any month is less than Rs.500, no interest will be paid for that month. At the end of each financial year, the account gets interest as decided by the Ministry of Finance.

All these facilities are available in the post office..

1. Check Book

2. ATM Card

3. Aadhar Seeding

4. Atal Pension Yojana (APY)

5. Pradhan Mantri Suraksha Bima Yojana (PMSBY)

6. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

7. E-Banking / Mobile Banking.

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PF Interest Rates Increased: Government is going to increase the interest rate on PF! know here more details

Pravesh Maurya — Fri, 23 Sep 2022 09:12:20 +0000

EPFO Interest Rates Hike: There is big news for those who have PF account. The government has given a big statement regarding the increase in the interest rate on the PF account. Minister of State for Labor and Employment Rameshwar Teli has said in the House that there will be no change in the interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Minister of State for Labor and Employment Rameshwar Teli has given this big information to the Rajya Sabha in a written reply to a question.

Information given by the government

Actually, this question was asked to Rameshwar Teli in the House whether the government is reconsidering to increase the rate of interest on Employees Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there is not going to be any increase in the interest rate on PF account.

Higher interest than small savings schemes

Minister of State for Labor and Employment Rameshwar Teli also said that the interest rate of EPF is higher than other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent). That is, according to Rameshwar Teli, the interest received on PF from small savings schemes is still high, in such a situation, the eligible government will not consider the interest rate hike. Let us tell you that the interest rate on EPF has been approved to give 8.10 percent.

Minister said this

Rameshwar Teli has said that the interest rate on PF is dependent on the income received by the EPF from its investments and such income is distributed only as per the EPF Scheme, 1952. Rameshwar Teli also said that the CBT and EPF have For 2021-22, 8.10 percent interest rate was recommended, which has been approved by the government, that is, this time the interest on PF will be available at the rate of 8.10.

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Post Office: Are all post office schemes tax free?, know details

Pravesh Maurya — Sun, 21 Aug 2022 03:47:41 +0000

Small savings schemes of the post office are used for savings purposes. There are some misconceptions among investors that post office schemes are tax free. However, it is not necessary that for the scheme providing tax saving benefits, the interest or return received on it will also be tax free.

There are very few post office schemes that have both the features and they come under EEE category (ie investment, interest/return and tax exemption on maturity), but none of the post office schemes have only tax-free features. There is no Tax Deduction at Source (TDS) on interest/returns on many post office schemes. In such a situation, investors often think that these are tax-free schemes. However, taxpayers have to provide information from other sources, such as interest earned on schemes, while filing their Income Tax Return (ITR).

Post Office Schemes

Public Provident Fund (PPF)

PPF has both tax-saving and tax-free features and comes under EEE category. The interest and maturity amount received on PPF is also tax free.

Sukanya Samridhi Yojana (SSY)

A parent or legal guardian of a girl child can open a Sukanya Samriddhi Yojana account at the post office and deposit up to Rs 1.5 lakh in a financial year. Like PPF, with tax-free interest and maturity, SSY also has EEE features.

National Pension System (NPS)

Investors can claim deduction up to Rs 50,000 in a financial year under section 80CCD(1B) for voluntary investment in NPS Tier-1 accounts. Returns and lump sum commutation from retirement corpus under NPS are tax-free.

Post office savings account

Deposits in post office savings accounts neither have tax saving benefits nor are interest tax free.

Post office time deposit

Investors get tax saving benefit of up to Rs 1.5 lakh under section 80C on investments made in 5 years Post Office Time Deposit. There is no tax-saving benefit available on short-term investments. Interest is also not free.

Post Office Monthly Income Scheme Account (MIS)

Neither any tax-saving benefit is available on deposits in Post Office MIS accounts, nor the interest earned is tax free.

Senior Citizen Savings Scheme (SCSS)

Senior citizen investors get tax-benefits of up to Rs 1.5 lakh under section 80C in a financial year on investments made in Post Office SCSS.

National Savings Certificate (NCS)

By investing in NCS, investors can get tax-benefits of up to Rs 1.5 lakh in a financial year under section 80C. However, the interest earned on NCS will be taxed.

Kisan Vikas Patra (KVP)

Investors cannot enjoy any tax-benefits on investment in KVP and neither the interest earned is tax free.

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Small savings schemes - Rightsofemployees.com

Small Savings Schemes interest rates announced for July-September quarter FY26

Why is it in discussion?

Key Interest Rates (July-September 2025)

Significance and impact

Bank interest rates are decreasing, but these small savings schemes are offering 8.2% interest.

New Delhi- Recently, the Reserve Bank of India (RBI) MPC has cut the repo rate by 25 basis points for the second consecutive time. After this cut, the repo rate is now 6 percent.

Sukanya Samriddhi Account Scheme

Senior Citizen Savings Scheme (SCSS)

New Rule: Govt has changed the rules for PPF, Sukanya Yojana and other small savings schemes

Rules Change: The government has changed the rules of PPF, Sukanya Samriddhi Yojana and other small savings schemes. This decision to remove the charges related to adding and changing the nominee in PPF and other savings schemes is a relief for investors and depositors.

Nomination fee for adding nominee in PPF account abolished

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Changes in rules for savings schemes too

Major change in Banking Amendment Bill 2025

Tenure of directors in cooperative banks extended

Key points related to PPF nominee update

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Government Schemes Interest Rates: The central government has given its decision on the interest rates of small savings schemes for the first quarter of the financial year 2025-26.

Small savings schemes: Govt announces interest rates for PPF, NSC, SSY for April-June, check the new interest

The government last changed the interest rates on some schemes for the fourth quarter of 2023-24. The government issues notification of interest rates on small savings schemes every quarter.

What did the Finance Ministry say

What is the interest rate of which scheme

there was a risk of a cut

EPFO maintains interest rate on PF deposits, PPF Sukanya may also be cut like small savings schemes

The Employees Provident Fund Organization ( EPFO ) has decided to retain the interest rate of 8.25 percent on Provident Fund deposits i.e. EPF for 2024-25. This interest is equal to the previous financial year.

What is the reason

What is the decision on EPF?

Senior Citizens Savings Scheme – Get 24 lakh rupees in 5 years, See the complete calculation

Senior Citizen Savings Scheme (SCSS) provides fixed returns to retired people. Also, you can invest in this scheme without any risk. This scheme run by the government gives the highest interest among the small savings schemes.

How much interest is given?

How does this scheme work?

How to earn 24 lakhs

The specialty of this plan

How much will be the profit on investing up to Rs 30 lakh in a single account?

Small Saving Scheme Interest Rate: Central govt has fixed the interest on small savings schemes for the January-March 2025 quarter

The interest rates of small savings schemes were last changed in the January-March 2024 quarter. At that time, the interest rates of three-year post office time deposits and Sukanya Samriddhi Yojana were revised.

On which schemes will this decision be applicable?

How does the government decide interest rates?

When was the last time interest rates were increased?

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