Post Office Small Savings Schemes: The government has disclosed interest on small savings schemes of the post office for the fourth quarter of the financial year 2020-21 i.e. January-March. In an order issued on 30 December by the Department of Economic Affairs, Ministry of Finance, it has been said that the interest rates on post office small savings schemes like PPF, NSC, SCSS, SSY will remain the same in the January-March quarter. That is, in the fourth quarter also, the interest rate of the October-December quarter will be applicable to these small savings schemes. Interest rates are reviewed every quarter for post office small savings schemes.
Explain that the government did not change the interest rates on small savings schemes in the October-December quarter as well. The last change in interest rates for them was done in the April-June 2020 quarter. Since then the same interest rate is applicable. Small Savings Schemes of the Post Office include National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Time Deposits, Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), Recurring Deposit ( RD) and Monthly Income Scheme.
Interest rates for small savings schemes in Q4
For those investing in NSC, KVP, time deposit, SCSS, the interest rates remain the same from the time they are invested in the scheme till the maturity period is completed. At the same time, the interest rate for PPF and SSY changes every quarter after the government makes amendments.