The Central Government notified the reduced rates of interest on small savings. This is in terms with the Governments’ decision on February regarding interest fixation for small savings schemes.
As per the decision taken by the Government, interest rates for small savings schemes must be notified on quarterly basis. Accordingly, the notification lays down the interest rates on various small savings schemes such as Savings Deposits, Yearly deposits, 5 year National Savings Certificate, Public provident Fund Scheme, Kisan Vikas Patra, Sukanya Samridhi Account Scheme etc, for the second quarter of financial year 2017-18 starting from 1st July to 30th September, on the basis of interest compounding/ payment built-in in these schemes.
Read the full text of the Notification below.
