Govt retained interest rates on small savings schemes for the fourth quarter of FY22

Dec 31, 2021
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The government on Friday announced the small savings scheme interest rates for the fourth quarter ending 31 March 2022. This time again, the government has provided relief to fixed income investors by keeping the interest rates on small savings schemes unchanged for the January-March period.

This means small savings schemes such as the Fixed Deposits, Public Provident Fund (PPF), Senior Citizen Savings Scheme (SSCS), National Savings Certificate (NCS), Sukanya Samriddhi Yojana etc will continue to fetch/earn the same interest rates for the quarter ending March 2022 as they did in the previous quarter, i.e., September-December 2021. The ministry of finance gives out a circular dated 31 December 2021.

Post office savings accounts will continue to fetch an interest rate of 4% while the post office monthly income scheme (POMIS) will earn the same interest rate, that is, 6.6%.

For the current quarter, you will continue to earn an interest of 7.1% in PPF, 7.4% in SCSS, 6.8% in NSC and 7.6% in the Sukanya Samriddhi Yojana scheme. Further the Kisan Vikas Patra (KVP) will remain to earn interest rate of 6.9% and have a tenor of 124 months. Besides, the government has retained the interest rates on post office term deposits at 5.5-6.7% for tenors of one-five years. The interest rate has remained constant since April 2020.

Take a look at the interest rates on various small savings schemes for the fourth quarter of FY 2021-22.

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