The federal government on Friday hiked the rates of interest on small deposits — together with publish workplace time period deposits, NSC and senior citizen financial savings scheme — by as much as 1.1 share factors from January 1, in step with firming rates of interest within the financial system.
Nonetheless, the rates of interest on Public Provident Fund (PPF) and the woman baby financial savings scheme Sukanya Samriddhi has not been modified.
Nationwide Financial savings Certificates (NSC) will yield a 7 per cent rate of interest from January 1, in comparison with 6.8 per cent at current. Equally, the senior citizen financial savings scheme will give 8 per cent curiosity towards 7.6 per cent at the moment.
Rates of interest on Put up workplace time period deposit schemes of period 1 to five years will rise by as much as 1.1 share factors.
The month-to-month earnings scheme too will yield 7.1 per cent curiosity, up from 6.7 per cent.