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Home Business Interest rate on PPF, NSC, other small savings schemes unchanged for Q4

Interest rate on PPF, NSC, other small savings schemes unchanged for Q4

Interest charges for small savings schemes are notified by the Finance Ministry on a quarterly foundation.

The authorities on Thursday stored the rates of interest on small savings schemes, together with PPF and NSC, unchanged for the January-March quarter amid moderating financial institution deposit charges.

Public Provident Fund (PPF) and National Savings Certificate (NSC) will proceed to hold an annual curiosity rate of seven.1 % and 6.8 %, respectively.

Interest charges for small savings schemes are notified by the Finance Ministry on a quarterly foundation.

“The rates of interest on various small savings schemes for the fourth quarter of 2020-21 ending on March 31 shall remain unchanged from those notified for the third quarter (October 1-December 31, 2020)”, the Finance Ministry mentioned in a notification.

Accordingly, the curiosity rate for the five-year Senior Citizens Savings Scheme has been retained at 7.4 %. The curiosity on the senior residents’ scheme is paid quarterly. Interest rate on savings deposits has been retained at 4 per cent yearly.

The woman little one savings scheme Sukanya Samriddhi Yojana will supply 7.6 % rate in the course of the third quarter of the present fiscal.

The annual curiosity rate on Kisan Vikas Patra (KVP) has been retained at 6.9 %.

Term deposits of 1-5 years will fetch an curiosity rate within the vary of 5.5-6.7 %, to be paid quarterly, whereas the curiosity rate on five-year recurring deposit is pegged at 5.8 per cent.

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