Latest PPF, SSY, NSC, Senior Citizen scheme rates of interest after order withdrawn

The Government in the present day withdrew the steep cuts on rates of interest on small financial savings schemes, introduced final night. The rollback comes on the day Bengal and Assam are voting within the second section of state elections. The cuts in schemes would have damage hundreds of thousands of middle-class depositors.

Union Finance Minister Nirmala Sitharaman stated that now the speed of curiosity on these deposits will stay unchanged because the final quarter of 2020-2021. “Interest rates of small savings schemes of government of India shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn,” tweeted the Finance Minister.

Interest charges of small financial savings schemes of GoI shall proceed to be on the charges which existed within the final quarter of 2020-2021, ie, charges that prevailed as of March 2021. Orders issued by oversight shall be withdrawn. @FinMinIndia @PIB_India— Nirmala Sitharaman (@nsitharaman) April 1, 2021

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Here are the newest PPF, Sukanya Samridhi, and different small saving schemes rates of interest after the rollback.

1) The price of curiosity for financial savings deposits will fetch 4 per cent.

2) Sukanya Samriddhi Account Scheme will give a 7.6 per cent price of curiosity.

3) Public Provident Fund will proceed giving 7.1 per cent.

4) National Savings Certificate will fetch an rate of interest of 6.8 per cent.

5) For Kisan Kisan Vikas Patra, depositors will get 6.6 per cent.

6) The price of curiosity for the Senior Citizen Savings Scheme can be 7.6 per cent.

7) For schemes with quarterly compounding frequency, the curiosity of one-year to three-year time deposit – 5.5 per cent. For a five-year time deposit scheme- 6.7 per cent.

8) For the five-year recurring deposit, the curiosity can be 5.8 per cent.

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