Small Savings Schemes In India: New Rules From October 1 For PPF, NSS, And Sukanya Samriddhi Yojana Accounts
Small Savings Schemes In India: The Department of Economic Affairs has introduced six new regulations relevant to investors in the National Savings Scheme, Public Provident Fund, and Sukanya Samriddhi Account. However, investors in small savings schemes should be aware that these new rules will take effect from October 1, 2024, marking the beginning of the third quarter of the current financial year.
Small Savings Schemes In India: The Department of Economic Affairs has introduced six new regulations relevant to investors in the National Savings Scheme, Public Provident Fund, and Sukanya Samriddhi Account. However, investors in small savings schemes should be aware that these new rules will take effect from October 1, 2024, marking the beginning of the third quarter of the current financial year.
National Small Savings Schemes
NSS-87 Accounts Opened Before April 2, 1990
NSS-87 Accounts Opened After April 2, 1990
More Than Two NSS-87 Accounts
PPF Accounts Opened In A Minor’s Name
More Than One PPF Account
The primary account will earn interest at the scheme rate if deposits remain within the annual limit. The balance from any additional accounts will be merged into the primary account. Any excess amounts will be refunded with 0% interest. Adding further, the accounts beyond two will earn 0% interest from their opening date.