{"id":28278,"date":"2023-02-16T04:48:03","date_gmt":"2023-02-16T04:48:03","guid":{"rendered":"https:\/\/todaysnews.in\/daily-updates\/?p=28278"},"modified":"2023-02-16T04:48:03","modified_gmt":"2023-02-16T04:48:03","slug":"small-saving-schemes-like-ppf-ssy-scss-nsc-and-kvp-offers-better-interest-rates-than-banks-in-2023","status":"publish","type":"post","link":"https:\/\/todaysnews.in\/daily-updates\/small-saving-schemes-like-ppf-ssy-scss-nsc-and-kvp-offers-better-interest-rates-than-banks-in-2023\/","title":{"rendered":"Small Saving Schemes like PPF, SSY, SCSS, NSC, and KVP Offers Better Interest Rates than Banks in 2023"},"content":{"rendered":"<p>At present interest rates on numerous Small Saving Schemes provides Better offers than Banks in 2023. PM Modi Government Schemes such as Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), National Saving Certificate (NSC), Kisan Vikas Patra (KVP), Sukanya Samriddhi Yojana (SSY) and many more Post office deposit schemes.<\/p>\n<p>\u201cHigher Interest rates on small savings schemes are better than those that are being proffered via alike pecuniary and Financial instruments being made available by most significant scheduled Commercial Banks. Rates applicable of these Modi Government Schemes are being systematically revised\u201d.<\/p>\n<p>Union Minister of state for Finance, Pankaj Chaudhary, expressed his view in a written reply to the query in Lok Sabha. He further said that interest rates on Modi Government Schemes were last revised for Q4 FY 2022-23.<\/p>\n<p>Also Read :-<a href=\"https:\/\/todaysnews.in\/daily-updates\/epfo-members-can-access-their-online-epf-passbook-again-on-epfo-portal-know-steps-to-check-e-passbook\/\" rel=\"bookmark\">EPFO Members can Access their Online EPF Passbook again on EPFO Portal, Know Steps to Check E- Passbook<\/a><\/p>\n<h2>Check How these Schemes Decides Interest Rates<\/h2>\n<p>Many factors decide the interest rates that are offered on Small Savings Schemes like, it includes, recommendations of Shyamala Gopinath Committee, existing taxation benefits for Small Savings investors and resultant rates of return, cost and interest.<\/p>\n<h2>Present Interest Rates on Small Savings Schemes<\/h2>\n<ul>\n<li>\u00a0For Five year Time Deposit \u2013 7%<\/li>\n<li>\u00a0For three year Time Deposit \u2013 6.9%<\/li>\n<li>\u00a0For two year Time Deposit \u2013 6.8%<\/li>\n<li>\u00a0For one year Time Deposit \u2013 6.6%<\/li>\n<li>\u00a0For Monthly Income \u2013 7.1%<\/li>\n<li>\u00a0For Five year Recurring Deposit \u2013 5.8%<\/li>\n<\/ul>\n<h2>PPF, SCSS, NSC, SSY, KVY Interest Rates in 2023<\/h2>\n<ul>\n<li><strong>\u00a0Public Provident Fund (PPF) \u2013<\/strong> At present this Small Saving Scheme is offering 7.1% Interest rate in 2023 by government.<\/li>\n<li><strong>\u00a0Saving Citizen Savings Schemes (SCSS) \u2013<\/strong> At present this small saving scheme provides 8% Interest rate in 2023 by government.<\/li>\n<li><strong>\u00a0National Savings Certificate (NSC) \u2013<\/strong> At present this small saving scheme provides 7% Interest rate in 2023 by government.<\/li>\n<li><strong>\u00a0Sukanya Samriddhi Yojana (SSY) \u2013<\/strong> At present this small saving scheme provides 7.6% Interest rate in 2023 by government.<\/li>\n<li><strong>\u00a0Kisan Vikas Patra (KVP) \u2013<\/strong> At present this small saving <a href=\"https:\/\/en.wikipedia.org\/wiki\/Kisan_Vikas_Patra\">scheme<\/a> is offering 7.2% Interest rate in 2023 by government.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>At present interest rates on numerous Small Saving Schemes provides Better offers than Banks in 2023. PM Modi Government Schemes such as Public Provident Fund<\/p>\n","protected":false},"author":1,"featured_media":28282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[51],"tags":[600,602,601,311,596,447,536,598],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Small Saving Schemes like PPF, SSY, SCSS, NSC, and KVP<\/title>\n<meta name=\"description\" content=\"At present interest rates on numerous Small Saving Schemes provides Better offers than Banks in 2023. 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