Interest rate on small savings schemes hiked, PPF to fetch 8%
The government has hiked interest rate on small savings schemes including Public Provident Fund (PPF), which will now fetch 8% interest rate for the October-December quarter, up from existing 7.6%. The 5-year Senior Citizen Savings Scheme will fetch 8.7%, while Sukanya Samriddhi Account Scheme 8.5%. The interest rate on small savings schemes was last revised for the January-March quarter.