Post Office: The Central Government has increased the interest rates on schemes like Time Deposit Scheme, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra (KVP) and Post Office Monthly Income Scheme for two and three years.
here are many such schemes of post office which are quite popular. There is no risk of any kind by investing in these schemes. Lakhs of people prefer to invest in post office schemes. The Central Government has increased the interest rates of the Small Savings Scheme after nine quarters. However, the government has not increased the interest rates of all small savings schemes.
Time deposit scheme for two and three years from the government, Senior Citizen Savings Scheme (SCSS), Kisan Vikas Patra (KVP) and Post Office Monthly Income Scheme like The interest rate on the schemes has increased.
Earlier in the first quarter of 2020-21, the interest rate of these schemes was cut. Let us tell you that the increase in the interest rates of these small savings schemes has come into effect from October 1. Post office time deposit of 2 years has been increased by 20 basis points.
For the first two years, under this scheme, people used to get 5.5 percent interest. But now after the increase, the interest has become 5.7 percent. At the same time, the interest on the three-year time deposit scheme has been increased by 30 basis points. Earlier it used to get 5.5 per cent interest. Now after the increase, 5.8 percent interest will be available.
Under the Monthly Income Scheme (MIS), the interest rate has been increased by 10 basis points to the customers. Now 6.7 percent interest will be available under this scheme. Earlier it was getting 6.6 percent interest.
Kisan Vikas Patra
The government has also increased the interest on the Kisan Vikas Patra (KVP) scheme. Now under this scheme, 7 percent interest will be available on the maturity of 123 months. At the same time, the interest rate of 6.9 percent was given earlier for 124 months.
senior citizens
The Senior Citizen Savings Scheme (SCSC) will get 7.6 percent interest. Earlier it was 7.4 per cent.
PPF, NSC, Sukanya Samriddhi Yojana
There has been no change in the interest rates of PPF, NSC, Sukanya Samriddhi schemes by the central government. Along with this, there has been no change in the Post Office Savings Deposit Scheme, 1 Year Time Deposit, 5 Year Time Deposit and Post Office RD Scheme.
