Here is the interest rates applicable on various National (Small) Savings Schemes.
New Delhi: Interest rates on Post Office small savings schemes, including –NSC, PPF, Senior Citizen, Sukanya Samriddhi — has been kept unchanged for the third quarter of 2021-22.
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively.
The interest rate on the five-year senior citizens savings scheme would be retained at 7.4 per cent. The interest on the senior citizens’ scheme is paid quarterly.
Interest rate on savings deposits will continue to be 4 per cent per annum.
Term deposits of one to five years will fetch interest rate in the range of 5.5-6.7 per cent, to be paid quarterly, while the interest rate on five-year recurring deposits will earn a higher interest of 5.8 per cent.
Here is the interest rates applicable on various National (Small) Savings Schemes.
| Sl.No. | Instruments | Rate of interest w.e.f 01.04.2020 to 31.12.2020 | Compounding Frequency* |
|---|---|---|---|
| 01. | Post Office Savings Account | 4.0 | Annually |
| 02. | 1 Year Time Deposit | 5.5(Annual Interest R. 561 on Rs. 10000 deposit) | Quarterly |
| 03. | 2 Year Time Deposit | 5.5(Annual Interest R. 561 on Rs. 10000 deposit) | Quarterly |
| 04. | 3 Year Time Deposit | 5.5(Annual Interest Rs. 561 on Rs. 10000 deposit) | Quarterly |
| 05. | 5 Year Time Deposit | 6.7(Annual Interest R. 687 on Rs. 10000 deposit) | Quarterly |
| 06. | 5 Year Recurring Deposit Scheme | 5.8 Maturity value for Rs. 100 Dn. 5 Year = 6969.67 After extension with deposit. 6 Year = 8620.98 7 Year= 10370.17 8 Year= 12223.03 9Year= 14185.73 10Year=16264.76 | Quarterly |
| 07. | Senior Citizen Savings Scheme | 7.4(Quarterly interest Rs. 185 on Rs. 10000 deposit) | Quarterly and Paid |
| 08. | Monthly Income Account | 6.6(Monthly int. Rs. 55 on Rs. 10000 deposit) | Monthly and paid |
| 09. | National Savings Certificate (VIII Issue) | 6.8(Maturity Value Rs. 1389 for Rs.1000 deposit) Accrued Interest for IT purpose for Rs. 1000 Dn. 1stYear= Rs.68.00 2ndYear=Rs.72.62 3rd Year=Rs.77.56 4th Year=Rs.82.84 5th Year=Rs.88.47 | Annually |
| 10. | Public Provident Fund Scheme | 7.1 | Annually |
| 11. | Kisan Vikas Patra | 6.9 (will mature in 124 months) | Annually |
| 12. | Sukanya Samriddhi Account Scheme | 7.6 | Annually |
The rates of interest on various small savings schemes for the third quarter of the financial year 2021-22 starting from October 1, 2021, and ending on December 31, 2021, shall remain unchanged from the current rates applicable for the second quarter (June 1, 2021 to September 30, 2021) for FY 2021-22.
