Beginning on April 1, there will be a 70 basis point rise in the interest rate.
The interest rates on various modest savings plans were raised by the Union Ministry of Finance on Friday by an additional 70 basis points. These rates will take effect on April 1st for the upcoming quarterly report. The National Savings Certificate, Kisan Vikas Patra, Monthly Income Savings Plan, and all post office time deposits are among the programs that are subject to the higher interest rate.
The Public Provident Fund (PPF) program is not subject to an increased rate of interest.
Look into new interest rates of small savings programs:
Interest rates for the Senior Citizens Savings Plan have increased from 8% to 8.2% in accordance with the updated rates. The rate for Kisan Vikas Patra has also increased, going from 7% to 7.2%.
Moreover increased by the Center from 7.1% to 7.4% is the interest rate for the program for monthly income accounts. In addition, interest rates have gone raised for time deposits with terms of one to five years, except for four-year terms.