Important news has come out for investors investing in Post Office or Small Savings Scheme. Taking a big decision, the central government has informed that there will be no change in the interest rate of small savings schemes including PPF-Sukanya Samridhi Yojana and NSC for the April to June quarter. Earlier, interest rates were kept unchanged for the March quarter.
According to the Finance Ministry, for the first quarter of FY2022-23 (April-June 2022), interest rates on small savings schemes like Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) will remain the same. The Finance Ministry has announced this through a circular issued.
That is, if an investor opens an account in a small savings scheme during the June quarter, then he will continue to get the benefit of interest as before. And on that basis, interest money will be given to him.
According to the circular issued, PPF will get 7.10 percent interest in the first quarter of the financial year 2022-23. 7.40 percent interest will be given on Senior Citizen Savings Scheme (SCSS). 5.5-6.7 percent interest will continue to be available on post office fixed deposits. Let us inform that there has been no change in the interest rate from 1 April 2020, which will be applicable for the period till 30 June 2022. Let us know how much interest is being received on which schemes…
how much interest on which scheme
- Interest is being paid at 4% per annum on savings deposits.
- An interest rate of 5.5 to 6.7 per cent is offered on a time deposit scheme of 1 to 5 years, which varies on a quarterly basis.
- 5.8% return is given on 5 year RD scheme.
- 7.4% interest on Senior Citizen Savings Scheme for 5 years.
- Interest of 6.6% is available for Monthly Income Account for 5 years.
- At the same time, 6.8 percent interest is available on NSC annually.
- 7.1% interest on PPF
- 6.9 percent interest for Kisan Vikas Patra
- 7.6% interest will be given on Sukanya Samriddhi Yojana.