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Massive Interest Rates Cut on PPF, NSC and Other Small Savings Schemes

Finance Guru Speaks: Government has drastically reduced the Interest Rates payable to several Small Savings Schemes like PPF (Public Provident Fund), NSC (National Savings Certificate), MIS (Post Office Monthly Income Scheme), SCSS (Senior Citizen Savings Scheme), SSY (Sukanya Samriddhi Yojana). It is certainly a big jolt to the Common Man!

Reduced Interest Rates of Small Savings Scheme will be applicable from 1st April, 2016.

New & Old Interest Rates are below :-

Small Savings Schemes Interest Rates Reduced
Click to enlarge - Small Savings Schemes Interest Rates Reduced
The idea of Government is to revise interest rates on small savings every quarter and at present, new interest rates will be applicable from Apr 1 to June 30.
"On the basis of the decisions of the government, interest rates for small savings schemes are to be notified on quarterly basis," the order said while announcing the rates for the first quarter of FY 2016-17.  

Please provide your comments in the below section and let us know what you think about this decision, considering Small Savings Schemes are very common investment/savings medium of Common people.

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