Interest rate on small savings schemes reduced

NEW DELHI, MARCH 26:  

The Finance Ministry has cut interest rate on PPF (Public Provident Fund) by 0.1 per cent to 8.7 per cent.

It has also cut the interest rate on five-year NSC (National Savings Certificate) to 8.5 per cent from 8.6 per cent and on 10-year NSC to 8.8 per cent from 8.9 per cent.

The Ministry has cut the interest rate on five-year postal recurring deposits to 8.3 per cent but has kept the savings deposit rate unchanged at 4 per cent.

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