Interest rates on PPF, Kisan Vikas Patra reduced

New Delhi, March 18: The government on Friday reduced the interest rates on small savings like Public Provident Fund (PPF) and Kisan Vikas Patra (KVP).

As part of the February 16 decision to revise the interest rates on small savings every quarter, the interest rate on PPF scheme will be slashes from 8.7 per cent to 8.1 per cent for April 1 to June 30.

The interest rate on KVP will also be reduced from 8.7 per cent to 7.8 per cent, according to a report of the Finance Ministry.

Besides, while the interest on post office savings has been retained at four per cent, the same for term deposits of one to five years has been reduced.

Oneindia News