Interest Rates Hike on Small Saving Schemes Come to Force Today

New Delhi: The hiked-up interest rates on various small savings schemes for the fourth quarter of the current Financial Year come into effect today. The interest rate of five year National Saving Certificate has been increased to 7 per cent from 6.8 per cent.

Finance Ministry said the interest rate on the senior citizen saving scheme increased to 8 per cent from 7.6 per cent. The Monthly Income Account Saving has also been increased to 7.1 per cent from 6.7 per cent.

The interest rate on Kisan Vikas Patra will now be 7.2 per cent and will mature in 120 months. The interest rate of a small savings deposit of one year time period has been increased to 6.6 per cent from 5.5 per cent. However, the interest rate on the Public Provident Fund scheme, Sukanya Samriddhi Account Scheme and Saving Deposit have been kept unchanged.

Meanwhile, the Reserve Bank of India has mandated banks in the country to renew their locker agreements with existing locker customers by today.

All the existing locker depositors are required to furnish proof of eligibility for a renewed locker arrangement. They are required to sign a renewal agreement before the specified date.

In another development, the RT-PCR test has been made mandatory for flyers coming from China, Hong Kong, Japan, South Korea, Singapore and Thailand today. The passengers have to upload their reports on the Air Suvidha portal before travel.

Union Health Ministry said the test should have been conducted within 72 hours of undertaking the journey to India. The Ministry said this is being done in view of the evolving COVID-19 situation across the world.