Small savings schemes interest rate cut by 0.1%

NEW DELHI: Interest rates on small savings schemes have been reduced marginally by 0.1% for the October-December quarter of 2016-17, leading to lower returns on Public Provident Fund, Kisan Vikas Patra, Sukanya Samriddhi Account, among others. PPF will fetch 8% interest rate in the third quarter against 8.1% in the previous quarter, and KVP 7.7%. KVP will now mature in 112 months instead of 110.