Money & Banking

Interest rate on small savings schemes reduced

Shishir Sinha New Delhi | Updated on March 12, 2018 Published on March 25, 2013

Interest rate on five-year NSC has been cut to 8.5 per cent from 8.6 per cent and on 10-year NSC to 8.8 per cent from 8.9 per cent.

The Finance Ministry has cut interest rate on PPF (Public Provident Fund) by 0.1 per cent to 8.7 per cent.

It has also cut the interest rate on five-year NSC (National Savings Certificate) to 8.5 per cent from 8.6 per cent and on 10-year NSC to 8.8 per cent from 8.9 per cent.

The Ministry has cut the interest rate on five-year postal recurring deposits to 8.3 per cent but has kept the savings deposit rate unchanged at 4 per cent.

Published on March 25, 2013
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