Senior citizens alert! interest rates go up on small savings schemes4 min read 05 Jan 2023, 09:52 PM IST
SCSS rates were hiked in the September 2022 quarter as well, but a further hike looks unlikely.
Investors in small savings schemes have a reason to rejoice, especially if they are senior citizens. Interest rates on five small savings schemes—Senior Citizen Savings Scheme (SCSS), National Savings Certificate (NSC), Monthly Income Savings Scheme, Kisan Vikas Patra (KVP) and post office time deposits—have been hiked by 20-110 basis points (bps) for the January-March quarter (see table). One basis point is one-hundredth of a percentage point.
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