The government on Friday announced the interest rates of the Small Savings Scheme for the fourth quarter ended March 31, 2022. This time again, the government has provided relief to fixed income investors by keeping the interest rates on small savings schemes unchanged for the January-March period.
This means that small savings schemes like Fixed Deposits, Public Provident Fund (PPF), Senior Citizens Savings Scheme (SSCS), National Savings Certificate (NCS), Sukanya Samriddhi Yojana etc. will continue to earn / earn the same interest rates for the quarter . March 2022 is ending as they did in the previous quarter, i.e. September-December 2021. The Finance Ministry issues a circular on 31st December 2021.
The Post Office Savings Accounts will continue to earn an interest rate of 4%, while the Post Office Monthly Income Scheme (POMIS) will earn the same rate of interest, i.e. 6.6%.
For the current quarter, you will continue to earn interest of 7.1% in PPF, 7.4% in SCSS, 6.8% in NSC and 7.6% in Sukanya Samriddhi Yojana. Apart from this, the interest rate of 6.9% will remain on Kisan Vikas Patra (KVP) and its tenure will be 124 months. In addition, the government has retained the interest rates on post office fixed deposits at 5.5-6.7% for a tenor of one-five years. The interest rate has remained stable since April 2020.
Have a look at the interest rates on various small savings schemes for the fourth quarter of FY 2021-22.
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