Today (31st March 2015) Finance Ministry announced the interest rates for Post Office Schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS), and for Sukanya Samriddhi scheme. These interest rates apply from 1st April 2015 to 31st March 2016.
Below table shows the interest rate applicable for Post Office Schemes, PPF and Sukanya Samriddhi Scheme for FY 2015-16.
I highlighted the changed interest rates with blue color. You notice that the Government changed interest rates only for Senior Citizen Savings Scheme (SCSS) and its dream scheme Sukanya Samriddhi Scheme. For a rest of schemes it unchanged.
To me, it looks like the Government is pushing it’s launched the scheme Sukanya Samriddhi Scheme more aggressively with increasing the interest rate. It currently looks attractive. But will the same or the next Government offers the same interest rate? I fully doubt these political moves. So one must be cautious while investing in Sukanya Samriddhi Scheme. What if in the future this Government or next Government started offering you a lesser interest rate? Because this scheme to me looks more of a political gimmick than actually scheme meant forthe girl child.
You may read my reviews about these schemes by clicking on below links.
- All about Public Provident Fund (PPF)
- All about Kisan Vikas Patra (KVP)-2014
- Sukanya Samriddhi Account-An investment scheme for your girl child
- Difference of Sukanya Samriddhi Account Vs PPF (With Tax Benefits)
Hope this above information will help you a lot.