The Ministry of Finance on August 29th 2024 has issued a critical notification that will impact all subscribers of the National Savings Scheme (NSS). The new notification stipulates that balances in the National Savings Scheme will no longer earn interest. This is a significant departure from the previous rules, where subscribers enjoyed a certain interest rate on their savings.
- No Interest Accrual: From October 1, 2024, your NSS account balance will not accrue any interest. This marks a significant shift from the previously applicable interest rates, which were a key feature of the scheme.
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