PPF vs Sukanya Samriddhi Yojana vs Kisan Vikas Patra vs other small saving schemes: Make money, get over 7 pct interest rates, risk free

A huge number of investors have put their money ion PPF (Public Provident Fund), National Saving Certificate (NSC) and Sukanya Samriddhi Yojana and other small saving schemes. They are making money even as interest rates are falling on bank fixed deposits. In this scanario, government-backed small saving schemes have emerged as saviours of the common man. 

In December 2019, the Cabinet Committee on Economic Affairs had left interest rates on government-backed small saving schemes unchanged. It left PPF and NSC interest rate at 7.9 per cent for January to March 2020 quarter while it left the Sukanya Yojna interest rate 2020 at 8.4 per cent. It also left the interest rate unchanged at 7.6 per cent on Kisan Vikas Patra maturing in 113 months. The Cabinet Committee on Economic Affairs also kept the interest rate unchanged at 8.6 per cent for the Senior Citizen Saving Scheme that matures in five years. 

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There are some reports that going forward, under the onslaught of Coronovirus, there may be a cut in small saving schemes interest rate. However, no such official response is available. Nevertheless, as teh current market situation indicates, small saving schemes are a great option for those who want to make good amounts of money from their investments, but do not want to take any kind of risk that may lead to loss.