This is the second time the government has cut interest rates on small savings schemes in the past one year. In the April-June quarter of 2020-21, the government had slashed rates of small savings schemes by 70-140 bps . (100 bps= 1 per cent).
With the latest cut, interest rates on small savings schemes have been reduced by a total of 110-250 bps during the current financial year.
Here is a look at the interest rates on various small savings schemes for the fourth quarter of FY 2020-21.