Posts Tagged ‘interest rate change small saving schemes’

Sukanya interest rate slashed from 9.2% to 8.6%

Sukanya interest rate slashed from 9.2% to 8.6%

Sukanya interest rate is slashed by the government recently. New Sukanya interest rate is 8.6%. This rate cut is applicable from April, 2016 for the first quarter of FY 2016. Apart from Sukanya, interest rate of other small saving scheme like PPF, KVP, NSC is also reduced by the government. The main reason behind the rate cut of small saving scheme is to align them with current market rates. This is a third big surprise from the government this year. […]