Govt Likely To Revise Interest Rates For Senior Citizen Savings Scheme, Details Here
1 year, 9 months ago

Govt Likely To Revise Interest Rates For Senior Citizen Savings Scheme, Details Here

News 18  

The Central government is likely to revise the interest rate on the Senior Citizen Savings Scheme as the next revision of the interest rates on Small Savings Schemes is due by the end of this month. The senior citizens are also hopeful that the government may announce an increase in the SCSS interest rate along with the revised interest rate for Small Savings Schemes. Though the government is yet to make any official announcement in this regard, the experts are not optimistic about any change in the SCSS interest rate. Senior citizens can earn up to Rs 20,000 per month in interest income by investing Rs 30 lakh in their SCSS accounts as per the existing interest rate.

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History of this topic

Indian Bank’s special fixed deposit scheme offering up to 8.05 percent to end on Nov 30. Check details
3 weeks, 4 days ago

Indian Bank’s special fixed deposit scheme offering up to 8.05 percent to end on Nov 30. Check details

Live Mint  

Indian Bank offers a special fixed deposit that offers upto 8.05 percent for super senior citizens. Category Interest rate Public 7.3% Senior citizens 7.8% Super senior citizens 8.05% The other scheme IND Supreme 300 offers interest rate upto 7.80 percent. Category Interest Rate Public 7.05% Senior citizens 7.55% Super senior citizens 7.80% For other duration deposits, bank offers these interest …

Will Govt Increase Interest Rates Of Small Savings Schemes? Know Past Trends
3 months, 2 weeks ago

Will Govt Increase Interest Rates Of Small Savings Schemes? Know Past Trends

News 18  

Small savings schemes in India are designed to provide individuals with safe and attractive options for saving money. Small Savings Scheme Interest Rate 2024 The government, in June, had decided to maintain the current interest rates on all small savings schemes for the July to September period. “The rates of interest on various small savings schemes for the second quarter …

PPF, Post Office Deposits, SSY: Govt Keeps Interest Rates Unchanged On Small Savings Schemes for Q2 FY25
5 months, 3 weeks ago

PPF, Post Office Deposits, SSY: Govt Keeps Interest Rates Unchanged On Small Savings Schemes for Q2 FY25

News 18  

The government on Friday kept the interest rates unchanged on small savings schemes, including Public Provident Fund, Sukanya Samriddhi Yojana, Senior Citizens Savings Schemes and post office time deposits, for July-September 2024, according to a notification by the finance ministry on Friday. Interest rates on small savings schemes like PPF, post office savings and term deposits, NSC and SSY, are …

Interest rate for small savings schemes to remain unchanged for April-June 2024 quarter: Centre
9 months, 2 weeks ago

Interest rate for small savings schemes to remain unchanged for April-June 2024 quarter: Centre

Hindustan Times  

The Finance Ministry on Friday announced the interest rates for small savings schemes for the upcoming quarter of April-June 2024, stating that the Centre has decided to keep the rates applicable to these schemes unchanged. The government announced that the interest rates for small savings schemes will remain unchanged In a memorandum issued on March 8, the Ministry of Finance …

Small Savings Schemes: What are the latest interest rates offered? Detailed comparison
9 months, 3 weeks ago

Small Savings Schemes: What are the latest interest rates offered? Detailed comparison

Live Mint  

Small savings schemes are financial instruments managed by the Central government to encourage households to inculcate the habit of saving. A lowdown on small savings scheme Post Office Savings Account: It can be opened by making a minimum deposit of ₹500 while minimum withdrawal amount is ₹50. The interest rate offered is 4 percent per annum on individual/ joint accounts …

Senior citizens savings scheme collection spikes, PPF rates remain same
1 year, 1 month ago

Senior citizens savings scheme collection spikes, PPF rates remain same

Live Mint  

Total collections made under small savings schemes witnessed a jump in September quarter, with deposits for the Senior Citizens Savings Scheme rising nearly 2.5 times year-on-year to ₹74,675 crore, reported Indian Express. The interest rate for Senior Citizens Savings Scheme was raised to 8.2 per cent from 8 per cent in June quarter this year and has been kept unchanged …

Government Increases Interest Rate on 5 Year Recurring Deposit Scheme
1 year, 2 months ago

Government Increases Interest Rate on 5 Year Recurring Deposit Scheme

Deccan Chronicle  

New Delhi: The government on Friday raised the interest rate on five-year recurring deposit scheme to 6.7 per cent from 6.5 per cent for the December quarter and retained the rates for all other small savings schemes. According to a finance ministry circular, the interest rate on savings deposit has been retained at 4 per cent and on the one-year …

All You Need To Know About Govt's Senior Citizen Savings Scheme
1 year, 7 months ago

All You Need To Know About Govt's Senior Citizen Savings Scheme

News 18  

The Senior Citizen Savings Scheme has been launched by the government to help elderly people save more money for their later years. Senior Citizen Savings Scheme investments receive 8.2% interest from banks and post offices. Seniors now have more investment options than ever, thanks to SCSS’s current interest rate of 8.2%, but those who opened accounts in the programme earlier …

Govt Hikes Interest Rates On Small Savings Schemes By Up To 70 bps for April-June 2023; Latest Rates
1 year, 8 months ago

Govt Hikes Interest Rates On Small Savings Schemes By Up To 70 bps for April-June 2023; Latest Rates

News 18  

The government has increased interest rates on small savings schemes, including post office time deposit, Senior Citizen Savings Scheme and National Savings Certificate, by up 70 basis points, according to a circular issued by the finance ministry on Friday. According to the circular, the highest interest rate hike was made in the NSC from 7 per cent to 7.7 per …

Bank FD vs Senior Citizen Savings Scheme (SCSS): Latest interest rates here
1 year, 10 months ago

Bank FD vs Senior Citizen Savings Scheme (SCSS): Latest interest rates here

Live Mint  

Bank FD vs SCSS: The Senior Citizen Savings Scheme was a big support for senior citizens during the covid pandemic when most of the banks were offering a low interest rate around 6% to senior citizens on long term fixed deposits.However, things have changed since May 2022 as banks have been hiking their interest rates on deposits as the Reserve …

Senior Citizens Savings Scheme: Govt To Mop Up Rs 75,000 Crore in FY24, Know About this Scheme
1 year, 10 months ago

Senior Citizens Savings Scheme: Govt To Mop Up Rs 75,000 Crore in FY24, Know About this Scheme

News 18  

The maximum investable amount of the senior citizen savings scheme could mobilise Rs 75,000 crore. To open the account under the senior citizen savings scheme, minimum deposit of Rs 1,000 is required in the multiples thereof with maximum deposit of Rs 30 lakh. Senior Citizens Savings Scheme Interest Rate Interest shall be payable from the date of deposit to 31st …

Finance Secretary defends higher investment limit in saving schemes, says…
1 year, 10 months ago

Finance Secretary defends higher investment limit in saving schemes, says…

Hindustan Times  

The decision to raise the investment ceilings in small savings schemes is aimed at benefiting senior citizens and the middle class who park funds in safe government deposit schemes offering higher returns than banks, Finance Secretary TV Somanathan has said. The government every quarter reviews and fixes the interest rate for small savings schemes The Budget 2023-24 raised the maximum …

Budget 2023: Senior Citizens Savings Scheme; Rs 30 lakh Deposit Limit, Check Interest Rate And Other Details
1 year, 10 months ago

Budget 2023: Senior Citizens Savings Scheme; Rs 30 lakh Deposit Limit, Check Interest Rate And Other Details

News 18  

For empowerment of senior citizens, the Union Budget 2023-24 announced that the maximum deposit limit for Senior Citizens Savings Scheme will be enhanced from the current Rs 15 lakh to Rs 30 lakh. Senior Citizens Savings Scheme interest rate Interest shall be payable from the date of deposit to 31st March/ 30th June/30th September/31st December on 1st working day of …

Budget 2023: Government raises interest rate on Senior Citizens’ Savings Scheme to 8%; all you need to know
1 year, 10 months ago

Budget 2023: Government raises interest rate on Senior Citizens’ Savings Scheme to 8%; all you need to know

Live Mint  

Senior citizens have a lot to rejoice with as the Union Finance Minister Nirmala Sitharaman announced reforms in the Budget 2023, allowing senior citizens to save and invest more for their future. The maximum deposit level of the Senior Citizens' Saving Scheme has been enhanced from Rs 15 lakh to Rs 30 lakh. The Union Budget 2023 has proposed to …

Senior citizens alert! interest rates go up on small savings schemes
1 year, 11 months ago

Senior citizens alert! interest rates go up on small savings schemes

Live Mint  

Investors in small savings schemes have a reason to rejoice, especially if they are senior citizens. Interest rates on five small savings schemes—Senior Citizen Savings Scheme, National Savings Certificate, Monthly Income Savings Scheme, Kisan Vikas Patra and post office time deposits—have been hiked by 20-110 basis points for the January-March quarter. The 8% interest rate on SCSS is higher by …

Interest Rate Hike On Post Office Time Deposits, Senior Citizen Savings Schemes, NSC Applicable From Today. Check Details
1 year, 11 months ago

Interest Rate Hike On Post Office Time Deposits, Senior Citizen Savings Schemes, NSC Applicable From Today. Check Details

ABP News  

New Delhi: The interest rate hike announced on small deposits including post office term deposits, NSC, and senior citizen savings scheme will be effective from today. What Investors Stand To Gain With the revision, National Savings Certificate will yield a 7 per cent interest rate from January 1 compared to 6.8 per cent at present. Similarly, the senior citizen savings …

Govt hikes interest rates on small deposits, NSC and post office deposits from Jan 1; no change in PPF rate
1 year, 11 months ago

Govt hikes interest rates on small deposits, NSC and post office deposits from Jan 1; no change in PPF rate

India TV News  

Interest rates hike: In accordance with firming interest rates in the economy, the Central government on Friday hiked the interest rates on small deposits by up to 1.1 percentage points from January 1. According to reports, the interest rates have also been raised on post office term deposits, National Saving Certificate and senior citizen savings schemes. However, the interest rates …

Small savings rates raised by 10-30 bps; PPF, NSC excluded
2 years, 2 months ago

Small savings rates raised by 10-30 bps; PPF, NSC excluded

Deccan Chronicle  

New Delhi: After a gap of nine quarters, the central government on Thursday raised interest rates on a handful of small savings schemes that do not get income tax benefit. With the revision, a three-year time deposit with post offices would earn 5.8 per cent from the existing 5.5 per cent, for the third quarter of the current financial year. …

Small Savings Scheme: Will Govt Raise Interest Rates For October-December 2022?
2 years, 2 months ago

Small Savings Scheme: Will Govt Raise Interest Rates For October-December 2022?

News 18  

Interest rates on small savings schemes, including PPF, Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme, have remained unchanged since the first quarter of 2020-21. A senior banker told news18.com that the government will monitor the country’s liquidity position and inflation before deciding on the interest rates of small savings schemes. The finance ministry had said, “The rates of interest …

Senior Citizens Savings Scheme: Interest Rates, Tax Benefits, Who Can Invest, Key Details
2 years, 5 months ago

Senior Citizens Savings Scheme: Interest Rates, Tax Benefits, Who Can Invest, Key Details

News 18  

Senior Citizens Savings Scheme: The government has recently announced interest rates for several small savings schemes including the Public Provident Fund, Sukanya Samriddhi Yojana and the Senior Citizens Savings Scheme. What are the Features of Senior Citizens Savings Scheme -A person can open an SCSS account with a minimum deposit of Rs 1,000, while the maximum can be raised to …

Small savings schemes – an island in an ocean of rising rates
2 years, 5 months ago

Small savings schemes – an island in an ocean of rising rates

Live Mint  

Expectations were high, and probably rightly so, that the Ministry of Finance would announce a hike in the small savings scheme interest rates. Small savings schemes include many popular schemes such as the Post Office time deposits, the Public Provident Fund, the Senior Citizen Savings Scheme and the National Savings Certificate, among others. Deposit rates rising Ever since the Reserve …

PPF, Sukanya Samriddhi, Senior Citizen Scheme: Govt to Hike Rates for September Quarter?
2 years, 5 months ago

PPF, Sukanya Samriddhi, Senior Citizen Scheme: Govt to Hike Rates for September Quarter?

News 18  

Post Office Savings Scheme Interest Rates: Stock markets and cryptocurrencies have recently been volatile, with traders experiencing huge losses in several sessions. Small savings schemes, including post office savings schemes like PPF, SSY and senior citizens savings scheme have their interest rates set by the government at the beginning of each quarter. 5-year Monthly Income Account: 6.6 per cent Post …

Senior Citizen Savings Scheme Offers 7.4% Interest per Annum; Know Eligibility, Other Benefits
2 years, 7 months ago

Senior Citizen Savings Scheme Offers 7.4% Interest per Annum; Know Eligibility, Other Benefits

News 18  

In India, senior citizens often depend on bank fixed deposits or recurring deposits for a regular income after their retirement. The Senior Citizen Savings Scheme, or SCSS, is a special savings scheme specifically designed for the older population. Features of Senior Citizens Savings Scheme -An individual can open an SCSS account with a minimum deposit of Rs 1,000, while the …

Post Office Savings Scheme Gives 7.4% Interest to Senior Citizens; Check Details Here
2 years, 8 months ago

Post Office Savings Scheme Gives 7.4% Interest to Senior Citizens; Check Details Here

News 18  

Post Office Savings Scheme: For senior citizens in India who want a stable income, investing in post office savings schemes is one of the most popular forms of investments. To ensure senior citizens get a fixed income after their retirement, the post office has in place the Senior Citizen Savings Scheme, or SCSS. Opening an Account Under Post Office SCSS …

PF, PPF, Senior Citizen Scheme Interest for This Quarter: Know Rates Before Investing
3 years, 2 months ago

PF, PPF, Senior Citizen Scheme Interest for This Quarter: Know Rates Before Investing

News 18  

Bringing a good news for investors, the government has kept the post office small savings schemes interest rates unchanged for the October-November-December 2021 quarter. The interest rate on PPF remains at 7.1 per cent per annum while for the Senior Citizen Savings Scheme, the interest rate is 7.4 per cent per annum. The 5-year Monthly Income Account Scheme is offering …

PMVVY vs SCSS: Key things that senior citizens must know
3 years, 6 months ago

PMVVY vs SCSS: Key things that senior citizens must know

Live Mint  

PMVVY vs SCSS: Amid lowering fixed deposit interest rates at leading Indian banks, senior citizens are busy finding out better risk-free investment option. Speaking on Senior Citizen Saving Scheme vs PMVVY Kartik Jhaveri, Director — Wealth Management at Transcend Consultants said, "Both SCSS and PMVVY yields 7.4 per cent annual interest rate. Since, there are speculations that Government of India …

Government withdraws cut in interest rates on PPF, NSC and other small savings schemes
3 years, 8 months ago

Government withdraws cut in interest rates on PPF, NSC and other small savings schemes

India TV News  

The Central government has rolled back cuts on interest rates on small savings schemes. "Interest rates of small savings schemes of the Government of India shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. While the interest on savings deposit was cut from 4 per cent …

'Issued by Oversight': Govt Rolls Back Small Savings Rate Cut Within Hours, Interest to be Same as Last FY
3 years, 8 months ago

'Issued by Oversight': Govt Rolls Back Small Savings Rate Cut Within Hours, Interest to be Same as Last FY

News 18  

The government on Thursday morning rolled back the cut on interest rates on small savings schemes. “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. The ministry said the rate cuts “are in line with overall interest rate …

Govt Cuts Interest Rates on Small Savings From 4% to 3.5% With Effect From April 1; Provident Fund Rate Down by 0.7%
3 years, 8 months ago

Govt Cuts Interest Rates on Small Savings From 4% to 3.5% With Effect From April 1; Provident Fund Rate Down by 0.7%

News 18  

The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate will now earn …

Govt Keeps Interest Rates on Small Savings Schemes Unchanged for Oct-Dec Quarter
4 years, 2 months ago

Govt Keeps Interest Rates on Small Savings Schemes Unchanged for Oct-Dec Quarter

News 18  

The government on Wednesday kept the interest rates on small savings schemes, including PPF and NSC, unchanged for the October-December quarter amid moderating bank deposit rates. Public Provident Fund and National Savings Certificate will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively. Later, a finance ministry notification said the rates of interest …

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