Government Cuts Interest On Small Savings Plans - Imphal

Friday, 29 December 2017

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City: Imphal, Manipur
Offer type: For Free


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NEW DELHI: The government on Wednesday trimmed interest rates on small savings schemes such as National Savings Certificate (NSC) and Public Provident Fund (PPF) by 20 basis points but spared senior citizens. One hundred basis points equals one percentage point.
The rate on the five-year senior citizen savings scheme was retained at 8.3% for the three-month period starting from January 1, 2018. Small savings rates are being revised on a quarterly basis since last year.
The government had kept rates unchanged in the October-December quarter. The finance ministry also retained the savings deposit rate at 4%.
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