Centre Raises Interest Rates On Post Office Deposits, No Change In Provident Fund Rates

The government today raised interest rates on most post office savings schemes that do not get income tax benefits, in line with the firming of interest rates in the economy. While the interest rate for popular PPF (Public Provident Fund) and girl child savings scheme Sukanya Samriddhi were retained, rates for deposits up to 5 per cent as well as NSC (National Savings Interest Rate), senior citizen savings scheme and Kisan Vikas Patra (KVP) where income accruing is taxable have been hiked by up to 1.1 percentage points, according to a finance ministry notification.