<h1>Small savings interest rates cut leads to lower bank deposit rates as government links scheme yields to bond yields.</h1> Government lowered small saving scheme interest rates by 0.1 percentage point for the April-June quarter while keeping savings deposit rate at four percent; PPF and 5 year NSC at 7.9 percent, KVP at 7.6 percent (112 month maturity), Sukanya Samriddhi and 5 year Senior Citizens scheme at 8.4 percent, term deposits (1-5 years) at 6.9-7.7 percent, and the 5 year recurring deposit at 7.2 percent. Rates are set quarterly and linked to government bond yields, with the change expected to induce banks to cut deposit rates.