centre decides to keep ppf, small savings interest rates unchanged

Rate of return on National Savings Certificate remains unchanged in the second quarter of this financial year

The Central Government decided to keep interest rates of small savings scheme unchanged for the second quarter on Wednesday.

Finance Ministry issued an office notification which stated, "The rate of interest on various small savings schemes for the second quarter of financial year 2021-22 starting from 1st July 2021 and ending on 30th September 2021 shall remain unchanged from the current rates applicable for the first quarter (1st April 2021 to 30th June 2021) for financial year 2021-22".

The government has kept interest rates on various post office schemes like Public Provident Fund (PPF) carries an annual interest rate of 7.1 per cent and National Savings Certificate (NSC) at 6.8 per cent.

Interest rates for small savings schemes are been notified on a quarterly basis. 1 year term deposit scheme will continue to earn an interest rate of 5.5 per cent during the second quarter.

While the girl child savings scheme Sukanya Samriddhi Yojana account will earn 7.6 per cent and on the five-year senior citizens savings scheme would be retained at 7.4 per cent.

Interest rate on savings deposits has been kept unchanged at 4 per cent per annum. Recurring deposits of five years will fetch an interest rate 5.8 percent. And, Kisan Vikas Patra interest rate has been kept unchanged at 6.9 per cent.

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