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PPF, NSC, Post office scheme interest rates announced by Finance minister

Punjab Tribune Bureau | April 01, 2022 03:06 PM

New Delhi: The government on Thursday kept interest rates unaltered for small savings schemes, including PPF and NSC, for the first quarter of 2022-2023 in the midst of inflation.

The interest rate has not been changed since the first quarter of 2020-2021.
Public provident fund (PPF) and national savings certificate(NSC) will keep on conveying a yearly loan cost of 7.1 percent and 6.8 percent, individually, in the first quarter of the next financial year.
“The pace of revenue on different little investment funds plans for the primary quarter of the financial year 2022-23, beginnings from April 1, 2022, and finishing on June 30,2022 will remain unchanged from this rates applicable for the fourth quarter (January 1,2022 to march 31,2022) for FY 2021-2022,” the money service said in a notice.
Interest rates for small savings schemes are notified on a quarterly basis.
The one-year term deposit scheme will keep on procuring a loan fee of 5.5 percent in the principal quarter of the following financial while the girl child saving scheme Sukanya samriddhi yojana will bring 7.6percent.
t is to be noticed that the country's greatest loan specialist State Bank of India (SBI) offers 5% financing cost on one-year fixed store.
The loan fee on the five-year senior residents' savings schemes will be held at 7.4 percent. The interest on the senior citizens scheme is paid on a quarterly premise.

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