Interest Rates Reduced: Interest rates of saving schemes like PPF, SSY may be reduced on June 30, know the government’s decision

The government is going to review the interest rates of small savings schemes like Sukanya Samriddhi Yojana (SSY), PPF and NSC on Monday, June 30. In such a situation, the government can change the interest rates of these schemes.

Saving scheme interest rates may be reduced: The government is running many types of saving schemes for the citizens of the country, in which people invest their money and get returns at a fixed interest rate. These saving schemes include many saving schemes like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY) and National Savings Certificate i.e. NSC. There is no fear of losing the money invested in these schemes. If you also resort to these saving schemes to invest your money, then this news is going to be very important for you. Actually, the government can now cut the interest rates of these saving schemes. Let’s know.

Saving scheme interest rates may be reduced

Actually, the government is going to review the interest rates of small savings schemes like Sukanya Samriddhi Yojana (SSY), PPF and NSC on Monday, June 30. In such a situation, the government can change the interest rates of these schemes. It is being estimated that the government may reduce the interest rates of these schemes during this review.

RBI reduced repo rate

RBI has cut its repo rate 3 times so far this year, after which the repo rate has been cut by a total of 1 basis point. In such a situation, it can now also affect the savings scheme. However, the government will not cut the interest rates much. This cut can be from 25 to 50 basis points. Now it remains to be seen what decision the government takes on June 30. If you invest your money in these savings schemes, then you may suffer a loss after the cut.

The post Interest Rates Reduced: Interest rates of saving schemes like PPF, SSY may be reduced on June 30, know the government’s decision first appeared on informalnewz.

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