The government has lowered the interest rate on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi by 0.1 percentage point for the July—September quarter, a move that will prompt banks to lower deposit rates. The rates have been lowered by 0.1 percentage point across the board compared to the April-June quarter. However, interest on savings deposits has been retained at 4% annually. Quarterly calibration Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis.A Finance Ministry notification said investments in the public provident fund (PPF) scheme will fetch a lower annual rate of 7.8%. Kisan Vikas Patra (KVP) investments will yield 7.5% and mature in 115 months.The one for girl child savings, Sukanya Samriddhi Account Scheme, will offer 8.3% annually, from 8.4% at present. The investment on 5-year Senior Citizens Savings Scheme will yield 8.3%. The interest rate on the senior citizens scheme is paid quarter