The interest rates of Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra, Sukanya Samriddhi Scheme, Savings Deposit (SD), and other Small Savings Schemes (SSS) have been kept the same until September 30, 2021.
This decision by the Central government came as a relief for those who invest in these small savings schemes, especially amid COVID-19.
According to a report on India.com, the interest rates on small savings schemes are applicable for the period between July 1, 2021, and September 30, 2021.
Here are the small saving interest rates for July 2021.
- Public Provident Fund (PPF), National Savings Certificate (NSC), and other small savings schemes' interest rates will remain unchanged as per the decision by the Central government.
- In a notification, the Union Ministry of Finance said, "The rates of interest on various small savings schemes for the second quarter of the financial year 2021-22 starting from July 1, 2021, and ending on September 30, 2021, shall remain unchanged from the current rates applicable for the first quarter (April 1, 2021, to June 30, 2021) for FY 2021-22."
- Kisan Vikas Patra's interest rate will be 6.9 percent. Notably, the scheme matures in 124 months.
- National Savings Certificate (NSC) interest rate will continue to be 6.8 percent.
- Sukanya Samriddhi Scheme's interest rate remains unchanged at 7.6 percent.
- Senior Citizen Savings Scheme interest rate is 7.4 percent.
- The monthly Income Account scheme interest rate continues at 6.6 percent.
- The Savings Deposit interest rate remains at 4 percent.
- 1-year Time Deposit interest rate is 5.5 percent.
- The 2-year time interest rate is 5.5 percent.
- The 3-year time deposit interest rate is 5.5 percent.
- 5-year time deposit interest rate is 6.7 percent.
- 5 Year Recurring Deposit Scheme interest rate is 5.8 percent.
