June 11, 2023 (MLN): National Savings will launch a new scheme of Micro Deposits for low-income individuals from July 01, 2023, as announced in the budget FY24 on Friday.

The scheme will offer a relatively high profit rate compared to the current rates, notably, the current highest rate offered is on short term saving certificate which offers around 21%.

Moreover, the account holders will have the facility of opening and managing their accounts digitally.

The scheme aims to encourage savings and financial inclusion among the low-income segment of the country.

Copyright Mettis Link News 

Posted on: 2023-06-11T21:26:00+05:00