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The government announced minor upticks of 0.1% to 0.3% in the interest rates payable on five small savings instruments (SSIs), including the Kisan Vikas Patra, Senior Citizens’ Savings scheme and time deposits for 2 and 3 years,
About Small Savings Instruments
- They are a set of savings instruments managed by the central government with an aim to encourage citizens to save regularly irrespective of their age.
- They can be grouped under three heads –
- Post office deposits( savings deposit, recurring deposit and time deposits)
- Savings Certificates(National Savings Certificate and the Kisan Vikas Patra)
- Social security schemes(Public Provident Fund, Sukanya Samriddhi Account and Senior Citizens Savings Scheme)
Source:TH
