Small Savings Schemes Rate: The Central Government has today announced the interest rates of Small Savings Schemes for the first quarter of the next financial year 2022-23.
Small Savings Schemes Interest Rate: The Central Government today (March 31) has announced the interest rates of Small Savings Schemes for the first quarter of the next financial year 2022-23. The government has decided to keep the interest rates of small savings schemes like PPF and NSC stable due to high inflation. After this decision, interest will be credited at the rate of 7.1 percent on PPF and 6.8 percent on NSC in the next financial year also. The Ministry of Finance has issued a notification related to this. The interest rates of small savings schemes are notified every quarter.
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Rates of interest for various schemes
- PPF – 7.1%
- NSC – 6.8%
- 1-Year Term Deposit Scheme – 5.5%
- Sukanya Samriddhi Yojana – 7.6%
- Senior Citizens Savings Scheme – 7.4%
- Savings deposits – 4%
- Term deposits of 1-5 years – 5.5-6.7%
- Five years recurring deposits – 5.8%
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The government has given gifts to central employees and pensioners
The Modi government has given a big gift to the central employees and pensioners a day ago. Due to the increased inflation, the Modi government has increased dearness allowance and relief and they will get 3 percent more DA / DR. The Modi cabinet has approved the release of additional installment of Dearness Allowance (DA) for central employees and Dearness Relief (DR) for pensioners. This installment will be effective from January 1, 2022. The cabinet approved a 3 per cent hike in the existing rate of 31 per cent on basic pay/pension to make up for the increased inflation. There will be a total impact of Rs 9,544.50 crore per year on the exchequer due to dearness allowance and dearness relief. This decision will benefit about 47.68 lakh central government employees and 68.62 lakh pensioners.
(Input: PTI)
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