The Government of India has announced the interest rate for the Small Savings Scheme for the first quarter of the financial year 2024-25. The Government of India has decided not to change the interest rate for the Small Savings Scheme in the first quarter of the financial year 2024-25. The first quarter of the financial year 2024-25, starting from April 1, 2024, and ending on June 30, 2024, will not have any effect on the interest rate under the small savings scheme.
Small Savings Scheme Interest Rate Announced for Financial Year 2024-25
The interest rate for the small savings scheme was announced by the government of India for the financial year 2024-25. All the permanent residents of India who want to invest in small saving schemes launched by the central or State Government. All the citizens who want to invest can now go to the official website to check the interest rate released by the authorities. The interest rate for the first quarter of financial year 2024-25 has remained unchanged by the government of India. The interest rate for the first quarter of the financial year 2024-25 is the same as the fourth quarter financial year 2023-24.
Also Read: Sukanya Samriddhi Scheme
Sukanya Samriddhi Interest Rate
The Government of India has announced the interest rate for all the investors who were interested in the Sukanya Samriddhi scheme. The Sukanya Samriddhi scheme is a prestigious scheme for all the small-scale investors in India who are expecting large returns. The interest rate under the Sukanya Samriddhi scheme for the first quarter of the financial year 2024-25 is 8.2 percent. And for the three-year term deposit under the Sukanya Samriddhi interest rate is 7.1 percent. Due to the minimum investment of INR 150 the Sukanya Samriddhi scheme is very popular among the financially unstable citizens of India.
Senior Citizen Savings Scheme Interest Rate
The Government of India has released the interest rate for the Senior Citizen Savings Scheme in India. The interest rate for the first quarter of the financial year 2024-25 under the Senior Citizen Saving Scheme is 8.2 per cent. The Senior Citizen Savings Scheme is one of the most famous savings account schemes among the senior citizens of India because it provides stable returns after the applicant reaches the age of 60. With the help of the Senior Citizen Savings Scheme, the senior citizens of India can get heavy returns from the investments they have made under the scheme.
National Savings Certificate Interest Rate
The Government of India has released the interest rate for the National Savings Certificate Scheme in India. The interest rate for the first quarter of the financial year 2024-25 under the National Savings Certificate is 7.7 per cent. To encourage small and medium investors in India the Government of India launched the national saving certificate scheme. The interest rate in the national saving certificate scheme is quite higher than all other saving schemes. The national saving certificate scheme is very popular among medium and small-scale investors because the minimum investment is INR 1000.
Public Provident Fund Scheme
The interest rate for the public provident fund scheme is released by the government of India for the investors. The interest rate for the first quarter of the financial year 2024-25 under the Public Provident Fund Scheme is 7.1 per cent. For all the investors in India who want to invest in a long-term scheme the Public Provident Fund Scheme is very useful for them. The tenure of the Public Provident Fund Scheme is 15 years. The Public Provident Fund Scheme is famous among investors because the interest is not taxable under Income Tax.
Also Read: Post Office Saving Scheme
Small Savings Scheme Interest Rate 2024-25
| Post office schemes interest rates for April to June 2024 | |
| Instrument | Rates of interest from April-June 2024 (%) |
| Savings Deposit | 4 |
| 1 Year Time Deposit | 6.9 |
| 2 Year Time Deposit | 7 |
| 3 Year Time Deposit | 7.1 |
| 5 Year Time Deposit | 7.5 |
| 5 Year Recurring Deposit | 6.7 |
| Senior Citizen Savings Scheme | 8.2 |
| Monthly Income Account Scheme | 7.4 |
| National Savings Certificate | 7.7 |
| Public Provident Fund Scheme | 7.1 |
| Kisan Vikas Patna | 7.5 (will mature in 115 months) |
| Sukanya Samriddhi Account | 8.2 |
How to Get Small Savings Scheme Benefits?
- To Get Small Savings Scheme Benefits the applicant can go to the official website.
- On the home page click on the option Apply Here.
- A new page will appear on your screen.
- Enter all the details that are asked and attach all the necessary documents.
- Click on the option Submit to complete your process.
FAQs
The Government of India has decided not to change the interest rate for the Small Savings Scheme in the first quarter of the financial year 2024-25.
The interest rate for the first quarter of the financial year 2024-25 under the Public Provident Fund Scheme is 7.1 percent.
The maturity period of the Public Provident Fund Scheme is 15 years.