Govt hikes interest rates on NSC & post office deposits

Government hiked interest rates on small deposits including post office term deposits, NSC & senior citizen savings scheme by up to 1.1 percent from January 1
Govt hikes interest rates on NSC & post office deposits
Govt hikes interest rates on NSC & post office deposits

New Delhi: The government on Friday hiked the interest rates on small deposits including post office term deposits, NSC and senior citizen savings scheme by up to 1.1 percentage points from January 1, in line with firming interest rates in the economy. However, the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi has not been changed.

NSC will yield 7% interest rate from January 1; post office deposit will rise by 1.1%

National Savings Certificate (NSC) will yield seven percent interest rate from January 1, compared to 6.8 percent at present. Similarly, the senior citizen savings scheme will give eight percent interest against 7.6 percent currently.

Interest rates on post office term deposit schemes of duration from one to five years will rise by up to 1.1 percentage points. The monthly income scheme too will yield 7.1 percent interest, up from 6.7 percent.

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