Interest rates on small savings received a huge cut on Wednesday with the government announcing interest on savings deposit will now be down from 4 per cent to 3.5 per cent annually, while Public Provident Fund or PPF will be down from 7.1 per cent to 6.4 per cent. From 1 April, National Savings Certificate (NSC) will get an interest of 5.9 per cent and the Sukanya Samriddhi Yojana will fetch an interest rate of 6.9 per cent.
