Mar 26, 2012, 08.39 PM IST | Source: Reuters

Govt to raise small savings schemes rates from April 1

India will raise interest rates on small savings schemes and public provident fund with effect from April 1, a government statement said on Monday.

Govt to raise small savings schemes rates from April 1

India will raise interest rates on small savings schemes and public provident fund with effect from April 1, a government statement said on Monday.

The new rates will be applicable on term deposits with a tenure of 1 year up to five years, on 10-year National Savings Certificate, on five-year monthly income scheme, among others, the statement said.

The rate of interest on the public provident fund will be raised to 8.8%  from 8.6%, it said.

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