Govt gift before Budget: Post office to small saving schemes interest rate unchanged

The big decision of the government before the budget, this much interest will continue to be available on Post Office Saving Schemes

In India, the common man likes to make small savings in post offices and many other government savings schemes. Just before the budget, the government has given a big relief to the common people by not changing the interest rate of these schemes. Know how much interest the government will give on which scheme...

Interest rate did not change

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The government can present the full budget for 2024-25 anytime by the end of next month. Just before the budget, the government has taken a decision to give great relief to the common man. The government has not made any change in the interest rates on small savings of the common man like post office RD to National Savings Certificate (NSC). The government reviews the interest rates on small savings schemes every three months and changes them if needed. But at present this has not been done.

The monsoon session of Parliament has started after the Lok Sabha elections. Before the elections, the government had brought an interim budget. Now the government is going to bring the full budget of the country before the end of the monsoon session. Just before this, the government has kept the interest rates for small savings schemes unchanged for the July-September quarter. There was speculation for a long time that these could be changed, but the government has neither increased nor decreased them.

Big decision of Finance Ministry

The Finance Ministry informed on Friday that the government has decided to keep the interest rates of small savings schemes unchanged for the July-September quarter. Therefore, now a decision on interest rates will be taken again after 30 September 2024.

Highest interest in this scheme

Among the small saving schemes, the government gives the highest interest in Sukanya Samriddhi Account. This interest is 8.2 percent per annum. The government also gives the same interest for the Senior Citizen Scheme. Investment in both these schemes can be made from the post office. Sukanya Samriddhi Account is a special scheme. It is useful for those parents who want to create a big fund for their daughter's education.

You will get this interest on the remaining savings

Apart from this, now you will get 7.7% interest on National Saving Certificate. Kisan Vikas Patra and 5-year time deposit get 7.5% interest, while the government gives 6.9% to 7.5% interest for 1 to 5 year investment scheme. By investing in these schemes, you can get tax exemption under Section 80C of Income Tax.