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Small savings: PPF, NSC rates cut to 7.8%, for KVPs to 7.5%

Posted By: Doraiah Vundavally June 30, 2017

Small savings: PPF, NSC rates cut to 7.8%, for KVPs to 7.5%New Delhi, June 30 (IANS) The government on Friday reduced the interest rates on small saving schemes, including National Savings Certificates (NSCs), Public Provident Fund (PPF) and Kisan Vikas Patra (KVP), by 10 basis points.

Provident Fund (PF) rates have not been reduced.

The PPF and NSCs will now earn 7.8 per cent interest while KVPs will earn even less (7.5 per cent), a Finance Ministry notification said.

 

Earlier, PPF, NSC and KVP were offering 7.9, 7.9 and 7.6 percent interest respectively.

Besides, both the Senior Citizen's Savings Scheme and Sukanya Samriddhi Yojana will now offer 8.3 per cent interest. These were earlier offering 8.4 percent.

Interest rates on small savings are revised quarterly. The previous revision happened in March when the rates for all the schemes were reduced by 10 basis points.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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Small savings: PPF, NSC rates cut to 7.8%, for KVPs to 7.5%

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.