Now the investors who has invested their money in Government Small Saving Schemes will have earn less as per revised interest rate move of the finance ministry.
On the recommendations of the Shyamala Gopinath Committee, the govt has decided to lowered interest rates on Public Provident Fund (PPF), five-year and 10-year National Savings Certificates (NSC) by 0.1 per cent each, reports said.
For Small savers of PPF, the rates will be 8.7 per cent from 8.8 per cent. However, National Savings Certificates (NSC) having maturity of five and 10 years will now lowered to 8.5 per cent and 8.8 per cent.
There will be no change on savings deposit schemes and on fixed deposit of Post office having maturity of one year.
Finance ministry reportedly said to come all revised rates into with effect from April 1, applicable for the entire 2013-14 fiscal.
