The interest rate on PPF is 7.1 percent, while the interest rate on Senior Citizen Savings Scheme is 7.4 percent. The amount deposited in Sukanya Samriddhi Yojana is getting 7.6 percent interest.
The government has not made any change in the interest rates of small savings schemes including PPF, Senior Citizen Savings Scheme and Sukanya Samriddhi Yojana. Currently, 7.1 percent interest is being given on PPF. From January to March 2022, the old interest rates available in small savings schemes will remain intact. The government reviews the interest rates of the Small Savings Scheme every quarter.
Interest rates are reviewed every quarter
The interest rates on all small savings schemes, including PPF, Senior Citizen Scheme and Sukanya Samriddhi Yojana, have not been changed. These rates will remain the same as the rates from October to December 2021. The interest rate on PPF is 7.1 percent, while the interest rate on Senior Citizen Savings Scheme is 7.4 percent. Interest is getting 7.6 percent on the amount deposited in Sukanya Samriddhi Yojana. Five-year Monthly Income Account Scheme gives 6.6 percent interest, while five-year NSC gets 6.8 percent interest annually. The interest rate on one-year deposits is 5.5 per cent while on five-year deposits, the rate is 6.7 per cent.
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Post office rates are higher than bank FDs
Fixed income investors have breathed a sigh of relief as there is no change in the interest rates of post office savings schemes. The rates of the Post Office Savings Scheme are being kept higher than the FD rates of the bank. At present, most banks are giving only 5 to 5.5 percent interest on their deposits from one year to ten years.
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