New Delhi, Sep 29 (PTI) The government on Thursday raised rates on some small savings schemes by up to 30 basis points (bps) in line with the hardening interest rate in the economy.

With the revision, a three-year time deposit with post offices would earn 5.8 per cent from the existing 5.5 per cent, an increase of 30 basis points for the third quarter of the current financial year.

Also Read | Punjab Shocker: Youth Attempts Rape Bid on Co-Worker's Minor Daughter in Mohali, Arrested.

Senior Citizen Savings scheme will earn 20 basis points more to 7.6 per cent from the existing rate of 7.4 per cent during the October-December period, a finance ministry notification said.

With regard to Kisan Credit Card, the government has revised both tenure and interest rates.

Also Read | Rajasthan Congress Crisis: Sonia Gandhi to Decide on State chief minister within a day or two, Says Party GS KC Venugopal.

The Reserve Bank since May has raised the benchmark lending rate by 140 basis points, prompting banks to raise interest rates on deposits as well.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)