Govt retains rates of interest on small financial savings schemes for 4th quarter of of FY22

The authorities on Friday introduced the small financial savings scheme rates of interest for the fourth quarter ending 31 March 2022. This time once more, the federal government has offered aid to fastened earnings traders by conserving the rates of interest on small financial savings schemes unchanged for the January-March interval.

This means small financial savings schemes such because the Fixed Deposits, Public Provident Fund (PPF), Senior Citizen Savings Scheme (SSCS), National Savings Certificate (NCS), Sukanya Samriddhi Yojana and many others will proceed to fetch/earn the identical rates of interest for the quarter ending March 2022 as they did within the earlier quarter, i.e., September-December 2021. The ministry of finance provides out a round dated 31 December 2021.

Post workplace financial savings accounts will proceed to fetch an rate of interest of 4% whereas the submit workplace month-to-month earnings scheme (POMIS) will earn the identical rate of interest, that’s, 6.6%.

For the present quarter, you’ll proceed to earn an curiosity of seven.1% in PPF, 7.4% in SCSS, 6.8% in NSC and seven.6% within the Sukanya Samriddhi Yojana scheme. Further the Kisan Vikas Patra (KVP) will stay to earn rate of interest of 6.9% and have a tenor of 124 months. Besides, the federal government has retained the rates of interest on submit workplace time period deposits at 5.5-6.7% for tenors of one-five years. The rate of interest has remained fixed since April 2020.

Take a take a look at the rates of interest on numerous small financial savings schemes for the fourth quarter of FY 2021-22.

Subscribe to Mint Newsletters * Enter a legitimate e mail * Thank you for subscribing to our e-newsletter.

Never miss a narrative! Stay linked and knowledgeable with Mint.
Download
our App Now!!