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Giving relief to crores of investors who have invested their money in Small Saving Schemes, the government has decided not to make any change in the interest rates for the July-September quarter. That is, the interest rates you were getting on these schemes till now will continue to be available in the next quarter as well. Through these schemes, the government wants to promote the habit of saving among the people.

The government has created small schemes, especially keeping in mind small investors, senior citizens, women, and people from rural areas. A fixed interest is available on these schemes, which is fixed every quarter.

Relief for those investing in small schemes
This decision of the government is going to give a lot of relief to those investing in Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS), Post Office FD, Post Office Monthly Income Scheme (POMIS) and National Savings Certificate (NSC), because it was expected that the government could cut the interest rates this time.

You will get this much return on these schemes.

Sukanya Samriddhi Yojana (SSY): The excellent return of 8.2% on this scheme will continue in the next quarter as well.

Public Provident Fund (PPF): This scheme will get an annual interest rate of 7.1%. This is a good option for long-term savings.

Post Office Term Deposit: You will get a 7.1% return on a 3-year post office term deposit.

Senior Citizen Savings Scheme (SCSS): This scheme will get an 8.2% return. This is a safe investment option for senior citizens.

Post Office Term Deposit: You will get a 7.1% return on a 3-year post office term deposit.

Post Office Savings Account: It will continue to get 4% return.

Kisan Vikas Patra (KVP): Investors will get a 7.5% return on this scheme, which will double your money in 115 months.

National Savings Certificate (NSC): This will offer a 7.7% interest rate. This is a good investment option for investors who want fixed returns.
Post Office Monthly Savings Scheme (POMIS): This scheme offers 7.4% return. This option is great for those looking for regular income.
How are interest rates decided?
The government reviews the interest rate on post office schemes every quarter. The interest rates of these schemes are determined according to the method suggested by the Shyamala Gopinath Committee.

Let us tell you that the government reviews these interest rates every quarter and updates them. Whether you want to save for your child's education, plan for your retirement, or want a safe return on your investment, small savings scheme is an excellent option for all these plans.

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