PPF- NSC – SSY Schemes: The Finance Ministry said in a notification, there has been no change in the interest rates for various small savings schemes in the first quarter (April-June) of 2022-23.
PPF – NSC – SSY Schemes : The government did not change the interest rates on small savings schemes like Public Provident Fund (PPF) and National Savings Certificate (NSC) for the first quarter of the financial year 2022-23. There has been no change in the interest rates on these schemes from the first quarter of 2020-21. The annual interest rate on PPF, NSC will remain 7.1 percent and 6.8 percent respectively in the first quarter.
Relief news for investors:
There has been no change in the interest rates for the first quarter (April-June) of 2022-23 for various small savings schemes, the Finance Ministry said in a notification. That is, the same interest will be available on these schemes, which was in the fourth quarter (January-March, 2021). The interest rates for small savings schemes are notified on a quarterly basis. The interest rate on one-year term deposits will be 5.5 per cent in the first quarter of the financial year beginning April 1, 2022.
Interest on Sukanya Samriddhi @ 7.6% :
At the same time, 7.6 percent interest percent will be available on the savings scheme Sukanya Samriddhi Yojana for the girl child. As per the notification, the five-year Senior Citizens Savings Scheme will continue to earn an interest rate of Re 7.4 per cent. Interest on savings account will be 4 percent as before. The interest on term deposits for tenures ranging from one year to five years will range from 5.5 per cent to 6.7 per cent. While the five-year recurring deposit (RD) will get 5.8 percent interest.
Interest Rate on PPF, NSC:
If we talk about PPF, then there is an interest rate of 7.1 percent per annum. Apart from this, an interest of 6.8 percent is available on National Savings Certificate (NSC). Let us tell you that in addition to the post office RD, the small savings schemes of the government include PPF, Kisan Vikas Patra, Sukanya Samridhi etc.
There is a churn every quarter:
Every quarter, the Finance Ministry brainstorms about the interest rate of small savings schemes. Today is the last day of this quarter i.e. 31st March. This is the reason that the decision has been taken on the interest rates for the coming quarter i.e. from April 1 to June 30.
