The central government has given a gift before the new year. The Central Government has increased the interest rates of several small savings schemes, including the Senior Citizen Savings Scheme and Time Deposit. The Finance Ministry announced an increase in the interest earned on Kisan Vikas Patra, Post Office Savings Schemes (NSC) and Senior Citizen Savings Scheme.
For the January to March quarter, interest rates on some savings schemes increased by 0.20 to 1.10 per cent. Senior Citizens Savings Scheme was getting 7.6% interest in the December quarter. Now it has been increased to 8%. At the same time, an interest rate of 6.8% was received on the National Savings Certificate, which has risen to 7%. The government has not changed the interest rates of the Sukanya Samriddhi Yojana and Public Provident Fund (PPF).
Interest rates on post office term deposit schemes of one to five years will increase to 1.1 per cent from January 1, 2023. The interest rate in the monthly income scheme has risen from 6.7 per cent to 7.1 per cent.
Please tell us that RBI increased the repo rate five consecutive times in December. Has increased the policy rates repo rate after its monetary policy meeting. The repo rate has increased from 4 per cent to 6.25 per cent.
