The authorities has given a giant blow to the frequent man amid the lockdown. The authorities has decreased rates of interest on small deposit schemes from 0.7 per cent to 1.four per cent. Due to this, individuals will now get much less curiosity on financial savings schemes like post workplace deposit schemes, PPF, Sukanya Samriddhi Yojana. The new rates of interest can be relevant from 1 April.
PPF will get 7.1 % curiosity
According to government-issued notifications, PPF rates of interest have come down from 7.9 per cent to 7.1 per cent within the April-June quarter. Whereas Sukanya Samriddhi Yojana will get 7.6 % curiosity as an alternative of 8.four %. Apart from this, a most of 1.four per cent curiosity has been lower on numerous intervals of post workplace.