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Interest rates for PPF, NSC, and small savings plans have been released | View the complete list

The government announced interest rates for modest savings programmes like NSC, PPF, and Sukanya Samriddhi Yojana on Thursday. Due to the high level of inflation, the rates have remained constant for the first quarter of 2022-23.

Since the first quarter of 2020-21, the interest rate has not been altered.

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INTEREST RATES ON PPF AND NSC

In the first quarter, the yearly interest rate on the Public Provident Fund (PPF) and the National Savings Certificate (NSC) would remain at 7.1 percent and 6.8 percent, respectively.

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According to a PTI report, the finance ministry stated in a notification that the rate of interest on various small savings schemes for the first quarter of the fiscal year 2022-23, beginning April 1, 2022, and ending June 30, 2022, will remain unchanged from the current rates applicable for the fourth quarter (January 1, 2022, to March 31, 2022) for FY 2021-22.

THERE IS NO CHANGE IN RATES

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Interest rates for modest savings programmes are announced quarterly.

The one-year term deposit programme will continue to earn 5.5 percent interest in the first quarter of the next fiscal year, while the Sukanya Samriddhi Yojana account for girl children will earn 7.6 percent.

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The five-year senior citizens’ savings scheme’s interest rate will remain at 7.4 percent. The senior citizens’ plan pays interest quarterly.

The interest rate on savings accounts will remain at 4% per year.

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Term deposits of one to five years will receive an interest rate of 5.5-6.7 percent, paid quarterly, while five-year recurring deposits would earn a higher interest rate of 5.8 percent.

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