New Delhi: The relief for savers, the government on Wednesday saved interest rates in the small savings scheme, including NSC and PPF, unchanged for the second quarter of 2021-22 amid a covid-19 pandemic.
Public Fund Provident (PPF) and National Savings Certificate (NSC) will continue to bring an annual interest rate of 7.1 percent and 6.8 percent, in the second quarter as well.
“The interest in various small-saving schemes for the second quarter of the financial year 2021-22 starting from July 1, 2021, and ending on September 30, 2021, will remain unchanged from current rates that apply to the first quarter (April 1, 2021 to 30 June 2021) for FY 2021-22, “said the Ministry of Finance in notification.
The government has quickly revoked the steep cut interest rate of up to 1.1 percent for the first quarter in a small austerity scheme, citing supervision.
As a result, the first quarter level was maintained at the fourth quarter level of the last financial year.
The piece was mentioned as the steepest pieces in decades.
Interest rates for small savings schemes are notified every quarter.
The one-year-time deposit scheme will continue to produce a 5.5 percent interest rate during the second quarter of fiscal today, while the girl’s savings scheme of Sukriya Samriddhi Yojana will produce 7.6 percent.
Interest rates in a five-year senior saving scheme will be maintained at 7.4 percent.
Flowers in the scheme of senior citizens are paid for each quarter.
The deposit rate of savings will continue to 4 percent per year.
One to five-year deposits will take interest rates in the range of 5.5-6.7 percent, to be paid every quarter, while the interest rate in recurrent deposits will produce higher than 5.8 percent interest.