Check out these post office saving schemes offering higher interest rates from this month1 min read 02 Oct 2022, 12:31 PM IST
The Reserve Bank of India since May has raised the benchmark lending rate by 190 basis points, prompting banks to raise interest rates on deposits as well
After nine quarters of status quo, the government has raised rates on some small savings schemes that do not get income tax benefit. The small saving deposits that have seen a hike in interest rates are two-year, three-year time deposit with post offices, Senior Citizen Savings scheme (SCSS), Kisan Vikas Patra (KVP) and Post Office Monthly Income Account. The interest rate on small savings schemes was last revised during the first quarter of 2020-21, when rates were slashed.
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