FinMin keeps rate of interest for small savings schemes unchanged for Q3FY25

The government notifies the interest rates on small savings schemes, majorly operated by post offices and banks, every quarter

The government on Monday left the interest rates on various small savings schemes unchanged for the quarter beginning October 1, 2024. "The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from 1" October, 2024 and ending on 31 December, 2024 shall remain unchanged from those notified for the second quarter (1" July, 2024 to 30 September, 2024) of FY 2024-25," said a finance ministry notification.

As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2%, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular PPF and post office savings deposits scheme too have been retained at 7.1 per cent and 4 per cent, respectively.

The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings Certificate (NSC) will remain at 7.7 per cent for the July-September 2024 period.

Like the current quarter, the Monthly Income Scheme will earn 7.4 per cent for investors. The government notifies the interest rates on small savings schemes, majorly operated by post offices and banks, every quarter.