Government’s big decision on all small saving schemes including PPF, NSC Sukanya, know how much interest will be received now

Small Saving Scheme New Interest Rate – The Ministry of Finance has given information about the interest to be paid on Small Savings Schemes for the third quarter of the current financial year. A notification has also been released in this regard. The government revises these interest rates for every quarter.

new Delhi. The central government has decided not to change the interest rate on Small Savings Schemes on Wednesday. It has several other savings schemes including Public Provident Fund and NSC. This decision of the government means that now there will be no change in the interest rates for these schemes for the October-December quarter. Tarun Bajaj, Secretary of the Department of Economic Affairs in the Ministry of Finance, gave information about this. He gave this information while stating about the government’s target of taking loans in the second half of the current financial year.

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These interest rates are revised every three months
The Ministry of Finance revises the interest rate on small savings schemes every three months. After this, information about this is issued by issuing notifications. This is the third consecutive quarter, when there has been no change in the rates of small savings schemes.

Notification released by the
Finance Ministry After this a notification was issued by the Ministry of Finance, which contained information about the interest rates of small savings schemes in the third quarter of the financial year 2020-21. In this notification, it was told that till December 31, there will be no change in the interest rates of these schemes.

>> According to this, for 5 years, senior citizens’ savings scheme will get interest at the rate of 7.4 percent. The rate of interest on this scheme is given on quarterly basis.
The rate of interest on savings deposit will be 4% per annum.

>> Sukanya Samriddhi Yojana (SSY) will continue to receive interest at the rate of 7.6 percent. At the rate of 7.6 percent, this interest will be for the third quarter of the current financial year i.e. October to December.

>> Interest will be paid on Kisana Vikas Patra (KVP) at the rate of 6.9 percent.

>> On term deposits for 1 to 5 years, the rate of interest will be 5.5-6.7 per cent. It is paid on a quarterly basis.

>> Apart from this, interest will be given at the rate of 5.8 percent on 5-year recurring deposit.

>> Interest will be given on National Savings Certificate at the rate of 6.8 percent.

>> At the same time, public provident fund (PPF) will get interest at the rate of 7.1 percent in the third quarter.

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