FY16 small savings rates announced; PPF unchanged at 8.7%

The government today announced key small savings rates for the new fiscal, 2015-16, that starts from tomorrow.

Public Provident Fund: 8.7 percent (unchanged from FY15)

Kisan Vikas Patra: 8.7 percent (unchanged)

10 year National Savings Certificate: 8.8 percent (unchanged)

5 year NSC: 8.5 percent (unchanged)

5 year Monthly Income Scheme: 8.4 percent (unchanged)

5 year time deposit: 8.5 percent (unchanged)

5 year recurring deposit: 8.4 percent (unchanged)

1-3 year time deposits: 8.4 percent (unchanged)

Savings deposit - 4 percent (unchanged)

The government annoucned changes in two schemes:

5 year Senior Citizen Saving Scheme: increase from 9.2 percent to 9.3 percent

Sukanya Samriddhi Account Scheme: increase from 9.1 percent to 9.2 percent