PPF, NSC, SCSS Rates Remain Unchanged: Where to invest now for higher returns?

financialexpress.com:

Contrary to expectations, the rates of interest on small savings schemes, including that of Public Provident Fund (PPF), National Savings Certificate (NSC) and Senior Citizen Savings Scheme (SCSS), for the fourth quarter of financial year 2023-24 were left unchanged by the government recently, and only the rates on 3-Year Time Deposit and Sukanya Samriddhi Account Scheme have been marginally increased from 7.0% and 8.0% to 7.1% and 8.2%, respectively.

This move has left a majority of individual investors in a quandary as they are unable to decide where to invest now for higher returns. For, a majority of investment avenues giving assured returns are not lucrative enough for investment and those which promise higher returns are either not safe for investment or are a bit risky. So, what to do now and where to invest one’s hard-earned money?

Industry experts say that although the PPF, NSC and SCSS interest rates have not been hiked, but they have remained stable, distinguishing them as reliable schemes offering consistent returns devoid of risks. SCSS even experienced a rise in interest rate from 8% to 8.2% in the preceding June quarter, maintaining this rate since then. So, both of them still remain very reliable and lucrative investment schemes for a majority of investors.

Also Read: National Pension System: Tax benefits of investing in NPS

However, for those looking for other schemes still have various other options to explore in the financial landscape for the coming quarters. Post office deposits, for instance, have seen a marginal increase in their interest rates, with 3-year term deposits rising from 7% to 7.1%. Similarly, the Sukanya Samriddhi Scheme’s interest rate has climbed from 8% to 8.2% for the fourth