Revised interest rates of small saving schemes from 1-Apr-2015 (FY 2015-16)

Revised interest rates of small saving schemes 2015-2016 Revised interest rates of small saving schemes from 1-Apr-2015 (FY 2015-16)

Last week, Govt. of India has announced revised interest rate for Sukanya Samriddhi account from 1^st April, 2015 along with few other interest rate announcements for small saving schemes. In this article, I would list down revised interest rates of small saving schemes like Sukanya Samriddhi Account, PPF, Senior Citizens Small Savings schemes etc. along with other small saving scheme interest rates. While some of the saving schemes are restricted only to post office, other small saving schemes like Sukanya Samridhi Account and Public Provident Fund can be opened with any authorised banks. These interest rates are effective from 1^st April, 2015 and are valid till 31^st March, 2016 (Financial year 2015-2016).

Revised interest rates of small saving schemes from 1-Apr-2015 (FY 2015-16)

1) Sukanya Samridhi Scheme interest rates are revised from 9.1% to 9.2% per annum with effective from 1^st April, 2015. Sukanya Samridhi Scheme is one of the best saving scheme for girl where you can get highest interest rate which is risk free, tax free and also get tax benefits u/s 80C upto ₹ 1.5 Lakhs.

2) Senior Citizens Saving Scheme (5 years) interest rates are revised from 9.2% to 9.3% per annum which is effective for this financial year 2015-2016. Banks are offering highest interest rates for Senior Citizens, hence one can look at those fixed deposits now.

3) Public Provident Fund interest rates for financial year 2015-2016 would be 8.7% per annum (same as previous year). You can invest ₹ 1.5 Lakhs per annum and another ₹ 1.5 Lakhs per annum on your spouse name for 15 years and get ₹ 95 Lakhs in 15 years. While you would get tax deduction u/s 80C, this maturity amount is totally tax free. This is the power of Public Provident Fund.

4) There are no other changes in interest rates of small saving schemes like NSC, Term deposits of Post office, Kisan Vikas Patra etc.

Complete summary of schemes with the old rate and revised rate (effective from 1^st April, 2015)

If you enjoyed this article, share it with your friends and colleagues on Facebook and Twitter.

Suresh
Revised interest rates of small saving schemes from 1-Apr-2015 (FY 2015-16)

Was this article helpful?

Click on a star to rate it!

Readers Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Author
Recent Posts

Suresh KP

Founder at Myinvestmentideas.com

Suresh KP is the founder of MyInvestmentIdeas.com, which he has run since 2011. He has over 23 years of experience across investments, mutual funds, stock markets, insurance, taxation and financial planning, and has written 2,500+ articles for Indian retail investors. He has completed NISM Investment Adviser (Level 1 & 2) and NISM Research Analyst certifications. Articles on this site compare publicly available data for educational purposes; Suresh is not a SEBI-registered investment adviser. More about his background: About Suresh KP | X (Twitter)