The government has kept the interest rates of small savings schemes unchanged for the quarter ending December 31, 2021. The rates have been kept stable for the sixth quarter in a row.
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This means that investors of the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), among other savings schemes will continue to earn the same interest rate as they were earning during the quarter ending September 30, 2021.
It must be noted that interest rates for these small savings schemes are notified quarterly. Currently, India Post or Department of Posts, which runs postal services in the country, offers nine types of small saving schemes.
Here's a look at the existing interest rates of small savings schemes:
| Instrument | Interest rate |
| Savings deposit | 4% |
| 1 year Time Deposit | 5.5% |
| 2 year Time Deposit | 5.5% |
| 3 year Time Deposit | 5.5% |
| 5 year Time Deposit | 6.7% |
| 5-year Recurring Deposit | 5.8% |
| 5-year Senior Citizen Savings Scheme | 7.4% |
| 5-year Monthly Income Account | 6.6% |
| 5-year National Savings Certificate | 6.8% |
| Public Provident Fund | 7.1% |
| Kisan Vikas Patra | 6.9% (will mature in 124 months) |
| Sukanya Samriddhi Yojana | 7.6% |
These schemes carry the least risk among all investment options as they are recognised and validated by the government, according to experts.
(Edited by : Anshul)
First Published:Sept 30, 2021 5:39 PM IST
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