Govt cuts interest rates payable on Various Schemes:-

Starting date of new rates :- 1 April 2016
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Girl-child saving scheme (Sukanya Samriddhi Account) :- 

New interest rate - 8.6 %
Old interest rate - 9.2 %

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PPF (Public Provident Fund)

New Interest Rate:-  8.1%
Old Interest Rate :- 8.7%

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KVP ( Kisan Vikas Patra )

Old Interest Rate -  8.7%
Old Mature Term in - 100 months (8 years 4 months)

New Interest Rate - 7.8 %
New Mature term in -  110 months ( 9 years 2 months) 

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Senior citizen savings scheme of five years :-

New interest Rate :- 8.6 %
Old Interest Rate:- 9.3 %

The rates on the post office term deposits :-

New interest Rates:
7.1 % for two-year time deposits
7.2 % for two-year time deposits
7.4 % for three-year time deposits.

Old Interest Rate :- 8.4 %

Note:- The rate for the five-year time deposit is being reduced to 7.9 per cent from 8.5 per cent.

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Recurring Deposits:- (For five-year recurring deposits)

New Interest Rate:-  7.4 %
Old Interest Rate :- 8.4 %

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