News From Press Senior citizens alert! interest rates go up on small savings schemes

Senior citizens alert! interest rates go up on small savings schemes

Source: Mint Jan 6, 2023

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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