Interest rates

Check interest rates for public provident funds, NSC schemes

The Ministry of Finance published a circular dated December 31 not announcing any change in the interest rates of small savings or post offices for the January-March quarter of the 2021-22 fiscal year. This means that for the quarter ending March 31, 2022, investors in small savings plans like the Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) will continue to receive the same interest rate as during the quarter ending December 31. , 2021.

New investments made during the January-March 2022 quarter in these plans will also earn the same interest rates as in the previous quarter. In accordance with the circular, for the last quarter of the 2021-2022 fiscal year, the Public Provident Fund (PPF) will continue to gain 7.10%. The Seniors Savings Plan (SCSS) will continue to bring in 7.40 percent, and post office term deposits 5.5-6.7 percent. The interest rates will be applicable for the period from January 1, 2021 to March 31, 2022.

Government circular on the interest rates of various small savings for the fourth quarter of fiscal year 2021-22:

“The interest rates of the various small savings plans for the third quarter of fiscal year 2021-2022 beginning on January 1, 2022 and ending on March 31, 2022, will remain unchanged from the current rates applicable for the third quarter ( October from 1, 2021 to December 31, 2021) for the 2021-22 fiscal year, “the Ministry of Finance said in a notification.

Uttar Pradesh is the second largest contributor to the small savings plan after West Bengal. Earlier this year, ahead of the West Bengal assembly elections, the Center decided to cut the interest rate. But the finance ministry quickly canceled a sharp cut in interest rates of up to 1.1% for the first quarter on small savings plans, citing surveillance. Small savings interest rates are released quarterly.

Image: PTI