Small Savings Schemes Interest Rates Remain Unchanged For The Q4 of 2021-22

In the midst of banks' low-interest rate regime, interest rates on small savings schemes were held steady for the fourth quarter of 2021-22 on Friday. In an official memorandum dated December 31, 2021, the Ministry of Finance said that "The rate of interest on various small savings schemes for the fourth quarter of the financial year 2021-22 starting from 1st January 2022, and ending on 31st March 2022, shall remain unchanged from the current rates applicable for the third quarter (October 1, 2021 to December 31, 2021) for FY 2021-22,"

As a new year surprise from the finance ministry, investors who participate in small savings schemes will receive unaltered interest rates on their accounts. The yearly interest rates on the Public Provident Fund (PPF) and National Savings Certificate (NSC) will remain at 7.1 percent and 6.8 percent, respectively, in the fourth quarter. While the Sukanya Samriddhi Yojana account for girl children would generate 7.6 percent interest. The interest rate on the five-year senior citizens' savings scheme will remain at 7.4 percent, while the interest rate on post office savings accounts will remain at 4%.

The interest rate on a 5-year Post Office Recurring Deposit Account (RD) will be 5.8% per year, while the interest rate on a Post Office Time Deposit Account (TD) will remain at 5.5 percent for deposits of one to three years and 6.7 percent for deposits of five years. The interest rate on the Post Office Monthly Income Scheme Account (MIS) would remain at 6.6% per annum payable monthly, while the interest rate on the Kisan Vikas Patra (KVP) will remain at 6.9% compounded annually.

Post Office Savings Schemes Interest Rates 2022