There has been no change in the interest rates of small savings schemes this quarter. Let’s check how much interest will be available on PPF, KVP, SSY, NSC, Monthly Income Scheme, Time Deposit and SCSS-
New Delhi: There is big news for those who invest money in small savings schemes. If you have also invested money or are planning to invest again, then a big relief has been given by the central government. There has been no change in interest rates this quarter as well. The small savings schemes interest rate for the July to September quarter will remain the same i.e. no deduction has been made in the benefits you will get. Let’s check how much interest will be available on PPF, KVP, SSY, NSC, Monthly Income Scheme, Time Deposit and SCSS-
Let us tell you that for the fifth consecutive quarter, the government has not made any change in the interest rates. Earlier, in the first quarter of the financial year 2020-21, interest rates were reduced by up to 1.4 percent.
How much interest will you get this quarter-
- The annual interest in NSC is 6.8 percent.
- The interest in Sukanya Samriddhi Yojana is 7.6 percent per annum.
- SCSS is getting 7.4 percent annual interest.
- The interest on PPF is 7.1 percent per annum.
- Kisan Vikas Patra (KVP) is getting 6.9 percent annual interest.
- Monthly Income Scheme has 6.6% annual interest.
- In the Post Office’s Recurring Deposit Scheme, 5.8 percent annual interest is being given.
- The interest on the 5-year time deposit scheme is 6.7% per annum.
- The interest rate on savings deposits is 4% per annum
Last quarter was earlier cut
The central government had earlier announced a 1.1 percent cut in interest rates last quarter, but the government withdrew its decision within 24 hours. The Finance Ministry had said that it was done by mistake and had immediately withdrawn its decision.
Review done every quarter
Explain that the interest rates on small savings schemes are reviewed every quarter. The Small Savings Scheme of the Post Office is a very popular scheme. There is a complete guarantee of security on the money deposited by the investors in the post office. Here the money remains safe, while a stable return is also available.
