Here is a Good news for small savers and investors, particularly those who bank on small savings schemes such as NSC, MIS and PPF for day-to-day living or retirement income. For, after a long time, the government has increased the interest rates on such schemes. In fact, the interest rates of small savings schemes such as PPF, NSC, SSAS, KVP and TD, among others, have been increased by 0.3% to 0.4% in respect of quarter 3 of the Financial Year 2018-19 (i.e. October 1, 2018 to December 31, 2018), compared to those of the quarter 1 and quarter 2 of the Financial Year 2018-19. “It’s for the first time that the government has announced upward changes in the interest rates of small saving schemes, since the quarterly review system of interest rates has been implemented in the Q1 of FY 2016-17. Hopefully, the increased interest rates will be beneficial for the retired pensioners, old age persons, etc., those who are mainly dependent on the interest income from investments in small saving schemes,” ICAI said in its income tax update.

Here is a Good news for small savers and investors, particularly those who bank on small savings schemes such as NSC, MIS and PPF for day-to-day living or retirement income. For, after a long time, the government has increased the interest rates on such schemes. In fact, the interest rates of small savings schemes such as PPF, NSC, SSAS, KVP and TD, among others, have been increased by 0.3% to 0.4% in respect of quarter 3 of the Financial Year 2018-19 (i.e. October 1, 2018 to December 31, 2018), compared to those of the quarter 1 and quarter 2 of the Financial Year 2018-19. “It’s for the first time that the government has announced upward changes in the interest rates of small saving schemes, since the quarterly review system of interest rates has been implemented in the Q1 of FY 2016-17. Hopefully, the increased interest rates will be beneficial for the retired pensioners, old age persons, etc., those who are mainly dependent on the interest income from investments in small saving schemes,” ICAI said in its income tax update.