The union government on December 27, lowered interest rates on small savings schemes such as National Savings Certificate (NSC) and Public Provident Fund (PPF) by 20 basis points (100 basis points are equal to 1% point)
-However senior citizens have been sparred by this move.
-These changes will be effective from 1st January, 2018.
-Since last year, small savings rates are revised on a quarterly basis.
-The rate on the five-year senior citizen savings scheme is retained at 8.3% for the three-month period starting from January 1, 2018.
