- Public Provident Fund interest rate may reach below 7 percent
- If this happens, the interest rate will go down to a low of 46 years
- new Delhi. During this crisis of coronavirus , common man can get a big shock. The Central Government (Central Govt) can once again cut the interest rates of small savings schemes (Interest rates cut of Small Savings Schemes). After this, the interest rates on Public Provident Fund can come down to 46 years. Let us tell you that the government has extended the last date of minimum deposit in PPF till June 30 for the financial year 2019-20. Its deadline was 31 March 2020. Failure to do so may result in a penalty at the end of the month.Gold price in India made record, silver also rises, know the condition of New York and London
Interest rates
have come down earlier – even in small savings schemes, the common people have suffered a setback.
In case of PPF, it was reduced from 7.9 per cent to 7.1 per cent in April.
– The rate of Senior Citizens Savings Scheme was reduced from 8.6% to 7.4%.
National Savings Certificate rates were reduced from 7.9 per cent to 6.8 per cent.
– Sukanya Samriddhi Account Scheme was reduced from 8.4 per cent to 6.9 per cent.Govt is making such a plan, by choosing, it will ban Chinese likeAlso Read: UAE: Temperatures to hit 48°C, partly cloudy weather forecast in some areas
Will rates go down to 46-year low?
According to the English media report, there is a cut in the public provident fund, interest rates can come down from 7 per cent to reach a 46-year low. Experts have attributed this to the steady decline in bond yields. This means that it is possible to cut interest rates of small savings scheme. Let us tell you that the interest rates of small savings schemes are released every quarter.After Haryana, Maharashtra Govt gave China a big shock, 5 thousand crore projects stopped
For the first time since 1974, there
may be a change in the interest rates of small schemes in the next week. If interest rates were cut, it would be the first time since 1974 that PPF rates would be below 7 per cent. The rate of interest of small savings schemes is linked to the bond yields of the government. The PPF rate is linked to the 10-year government bond yield. The PPF interest rate for the April-June quarter was kept at 7.1 per cent.Now loan will have to be easy to start business, Govt is bringing new portal
Will interest rates be reduced?
In April 2020, there was a big fall in interest rates. From April 1, the 10-year bond yield has come down from 6.07 per cent on average to 5.85 per cent at present. The indication is clear that the interest rate can be reduced in small savings schemes. This will not affect NSC and KVP, but will see an impact on PPF and Sukanya scheme investments.
