From April 1, interest rate on PPF, small savings will be lowered by 0.1 percent
New Delhi, March 31: The Centre today lowered interest rates by 0.1 per cent on Public Provident Fund and small savings deposits. The new rate would be effective from April 1.
Meanwhile, For the January-March quarter even as banks have started lowering their deposit rates, government has kept interest rates on small savings schemes like PPF and Kisan Vikas Patra unchanged.
Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis. For the January-March quarter, these have been kept unchanged compared with the October-December quarter.
A finance ministry notification said investments in public provident fund (PPF) scheme will continue to fetch an annual interest rate of 8 per cent, the same as 5-year National Savings Certificate.