Business

Government raises interest rates on some small savings schemes by up to 30 pts in Q3

The center increases interest rates on some small savings programs up to 0.30%

For the Kisan Credit Card, the government has revised both the term and the interest rate.

New Delhi:

The government on Thursday raised interest rates on some small savings schemes by up to 30 basis points (bps) in line with growing interest in the economy.

With the amendment, a three-year term deposit at the post office will earn 5.8% from the existing 5.5%, an increase of 30 basis points for the third quarter of the current fiscal year.

A Treasury announcement said the Seniors Savings program will earn an extra 20 basis points to 7.6% from the current level of 7.4% in the October-December period. .

For the Kisan Credit Card, the government has revised both the term and the interest rate.

The Reserve Bank has since May raised its benchmark lending rate by 140 basis points, prompting banks to raise deposit rates as well.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

Source link

news5s

News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button