Shimla: The interest rates for the January–March 2024 quarter of modest savings plans were released by the central government on Friday. The Sukanya Samriddhi Yojana has experienced a 0.20 percent hike, while the three-year deposit rates have seen a 0.10 percent boost.
The rates of other schemes have not been changed. Earlier, the interest rate of the Sukanya Scheme was eight percent, and the interest rate of three-year time deposit was seven percent.
Now the interest rate on the Sukanya scheme for the next three months will be 8.20 percent, while the interest rate on three-year time deposit will be 7.10 percent.
The charges for these plans have gone up for the sixth straight quarter. The Finance Ministry raised the interest rates on recurring deposits (RD) by 0.2 percent for the months of October through December earlier on September 29.
For nine quarters running, the Finance Ministry had not altered the interest rates on small savings plans. Following that, from October to December 2022, it began to rise.