The Centre on Wednesday cut the interest rates on small savings schemes, including PPF, Kisan Vikas Patra and NSC by 0.2 percentage points or 20 basis points for the January-March 2018.
After the cut, the Public Provident Fund (PPF) and five-year National Savings Certificate (NSC) scheme will fetch an interest of 7.6% from the existing 7.8%.
Similarly, Sukanya Samriddhi scheme will now offer 8.1% in place of the earlier 8.3%.
However, the interest rate on the five-year Senior Citizens Savings Scheme has been kept unchanged at 8.3%.
"The interest rate on one-year time deposits comes down to 6.6% from 6.8% at present, similarly the rate on two-year time deposits is cut to to 6.7%," a finance ministry notification said. Interest rates on small saving schemes have been re-calibrated on a quarterly basis since April last year. However, there was no change in these rates in the October-December quarter.
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