Govt hikes Q3 interest rates on some small savings schemes by up to 30 bps

The Finance Ministry increased rates on some small savings schemes for the third quarter of current financial year. With the revision, the rate for deposits with post offices will increase by 30 basis points (bps) to 5.8% from the existing 5.5%. The rate for the Senior Citizens' Savings Scheme will increase by 20 bps to 7.6% for the third quarter.