Sukanya Samrudhi Scheme interest rate increase in interest rate of important government projects. Here is complete information
Sukanya Samrudhi Scheme interest rate increased
Now comes the sweet news. Yes, Sukanya Samrudhi Scheme interest rate on fixed deposits of three years period has been increased for quarterly period (3 Years). That means from January to March. The Central Government has increased interest rates on Sukanya Samriddhi Yojana by 20 basis points and interest rates on three-year fixed deposits by 10 basis points. The full information about it is as follows. For all Government Schemes and scholarship information click here to join our Telegram channel now
Increased interest rate in Sukanya Samriddhi Yojana:
Sukanya increased the interest rate on the Samriddhi Yojana. The interest rate on deposit of Sukanya Samriddhi Yojana is currently 8%, which has been increased to 8.2%. Also, the interest rate on three-year deposits has been increased from 7 percent to 7.1 percent.
No change in PPF and Savings Deposit:
Interest rates on PPF and Savings Deposits have remained unchanged at 7.1% and 4% respectively. The rate fixed earlier in the December quarter has been kept unchanged.
Increase in interest rate even in small schemes:
Similarly, the Central Government has given good news to the small savers (savings rates). The interest rates of Small Saving Schemes have been increased to 0.20% for the period of January-March 2024 (Rate of Interests). Post office interest rates for 3 years (Post office FD) have been increased.
In some schemes interest rate has not increased yet:
However, the PPF Public Provident Fund interest rate remains unchanged at 7.1%.
The interest rate of the monthly income plan is also kept the same.
In May 2022, the Reserve Bank of India (RBI) increased the repo rate. Currently the repo rate is 6.5 percent. No change has been made in the fiscal policy meeting which has been held five times in the current year.
How to calculate small savings interest?
The government checks the interest rates of small savings schemes every three months. These interest rates are fixed based on the Shyamala Gopinath Committee report. The interest rate of small savings schemes is linked to the yield offered by 10-year government bonds. In its report submitted in 2011, the committee said that the interest rates of small savings schemes should be linked to market fluctuations.
Investing only in gold, small savings schemes or real estate has some disadvantages. Mutual funds are ideal for diversifying investments. Interest on small savings schemes will not increase your investment when inflation is high. Instead subtracts the value. Thus mutual fund is helpful.