Interest Rates For Small Savings Scheme – No Change Until 31st March 22!!!!

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Interest Rates For Small Savings Scheme - No Change Until 31st March 22
Interest Rates For Small Savings Scheme - No Change Until 31st March 22

Interest Rates For Small Savings Scheme – No Change Until 31st March 22: Investors who enroll in small savings programmes will get unchanged interest rates on their accounts as a new year’s surprise from the finance ministry. In the fourth quarter, the annual interest rates on the Public Provident Fund (PPF) and the National Savings Certificate (NSC) will stay unchanged at 7.1 percent and 6.8 percent, respectively.

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The Sukanya Samriddhi Yojana account for girl children, on the other hand, would earn 7.6% interest. The five-year senior citizens’ savings scheme will continue to pay 7.4% interest, while post office savings accounts will pay 4%. The interest rate on a 5-year Post Office Recurring Deposit Account (RD) will be 5.8% each year, while the rate on a Post Office Time Deposit Account (TD) will stay at 5.5 percent for one to three-year deposits and 6.7 percent for five-year deposits. The interest rate on the Post Office Monthly Income Scheme Account (MIS), which is payable monthly, would stay at 6.6 percent per annum, while the interest rate on the Kisan Vikas Patra (KVP) will remain at 6.9 percent per annum.

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In the fourth quarter of 2021-22, the government kept interest rates on modest savings plans, such as NSC and PPF, constant, despite increased incidence of the more contagious coronavirus variant Omicron and rising inflation. The decision comes as five states — Uttar Pradesh, Uttarakhand, Punjab, Himachal Pradesh, and Goa — prepare for assembly elections. The election schedule is scheduled to be released early next month.

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