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The central government on Monday announced a status quo on the interest rates applicable to small savings schemes for the second quarter of the financial year. These small schemes are: Savings Account, Time Deposit (four maturities), Recurring Deposit, Senior Citizen Savings Scheme, Monthly Income Scheme, National Savings Certificate, Public Provident Fund, Kisan Vikas Patra, Mahila Samman Savings Certificate, and Sukanya Samriddhi Account. 

For the quarter ended June 30, these government-backed fixed income schemes provided interest rates to the tune of 4-8.2 per cent per annum. The latest notification means that the same interest rates will be carried forward to the period from July 1 to September 30. 

Currently, the government reviews these interest rates every quarter, implementing any revisions at the onset of a new quarter. 

Out of these schemes, Senior Citizen Savings Scheme (a special scheme for senior citizen depositors) and Sukanya Samriddhi Scheme (focused on the girl child) each pay the highest interest rate of 8.2 per cent per annum. 

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