PPF, NSC, small savings schemes interest rates announced | Check full list
India Today
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the first quarter.
Interest rates on small savings schemes, including NSC, PPF, and Sukanya Samriddhi Yojana, were announced by the government on Thursday. The rates have been kept unchanged for the first quarter of 2022-23 due to an elevated level of inflation.
The interest rate has not been revised since the first quarter of 2020-21.
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively, in the first quarter.
"The rate of interest on various small savings schemes for the first quarter of the financial year 2022-23, starting from April 1, 2022, and ending on June 30, 2022, shall remain unchanged from the current rates applicable for the fourth quarter (January 1, 2022, to March 31, 2022) for FY 2021-22," the finance ministry said in a notification, as per a PTI report.
Term deposits of one to five years will fetch an interest rate in the range of 5.5-6.7 per cent, to be paid quarterly, while the interest rate on five-year recurring deposits will earn a higher interest of 5.8 per cent.
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