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Interest rates for NSSF loan revised to 8.8% from 9.5%

India Blooms News Service | | Apr 13, 2016, at 08:38 pm

#Interest rates # NSSF loan revi

New Delhi, Apr 13 (IBNS) The Union Ministry of Finance announced on Wednesday that in line with the revision of interest rates of small savings schemes, interest rates for the National Small Savings Fund (NSSF) loan to Centre and States for FY 2016-17 has been revised and fixed at 8.8% in place of 9.5%.

The National Small Savings Fund (NSSF) invests its net collection as loan to Centre and State/UT Governments. The interest rate of NSSF loan to Centre and States for Financial Year 2015-16 was 9.5%. This interest rate was felt to be burdensome on states’ economies.

The ministry said that in the context of easing the transmission of the lower interest rates in the economy, the Government has taken a comprehensive view on the social goals of certain National Small Savings Schemes.

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