The government decides on the interest rates for small savings like PPF and NSC every three months. Recently, they might increase the rates.
The rates depend on a thing called the 10-year G-Sec yield. If that goes up, the rates for savings might also go up.
Between September and November 2023, the rates for 5-year and 10-year government bonds increased a bit.
The government looks at how much money is there and how prices are changing in the country before deciding on savings rates.
Right now, the rates for savings are between 4% and 8.2%. For example, if you save money for 1 year, you can get 6.9% interest.
If you save for 5 years, you might get 7.5% interest. These rates might change based on what the government decides every three months.
