Let us tell you that for the fifth consecutive quarter, the government has not made any change in the interest rates. Earlier, in the first quarter of the financial year 2020-21, interest rates were reduced by up to 1.4 percent.
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How much interest will you get this quarter-
>> The annual interest in NSC is 6.8 percent.
>> Sukanya Samriddhi Yojana has 7.6 percent annual interest.
>> SCSS is getting 7.4 percent annual interest.
>> The interest on PPF is 7.1 percent per annum.
>> Kisan Vikas Patra (KVP) is getting 6.9 percent annual interest.
>> Monthly Income Scheme has 6.6% annual interest.
>> Recurring deposit scheme of post office is getting 5.8 percent annual interest.
>> The interest on the 5-year time deposit scheme is 6.7% per annum.
>> The interest rate on savings deposits is 4% per annum
last quarter was earlier cut
The central government had earlier announced a 1.1 percent cut in interest rates last quarter, but the government withdrew its decision within 24 hours. The Finance Ministry had said that it was done by mistake and had immediately withdrawn its decision.
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Review done every quarter
Explain that the interest rates on small savings schemes are reviewed every quarter. The Small Savings Scheme of the Post Office is a very popular scheme. There is a complete guarantee of security on the money deposited by the investors in the post office. Here money remains safe, while a stable return is also available.