Govt reduces interest rates on various small savings schemes for 1st quarter of 2021-22 FY

Government has reduced the interest rates on various small savings schemes for the 1st quarter of 2021-22 financial year starting tomorrow.

Savings deposit rate has been revised from 4 per cent  to 3.5 per cent annually while the Public Provident Fund rate has been cut down to 6.4 per cent from 7.1 per cent annually. The interest rate on National Savings Certificates has been reduced to 5.9 per cent from existing 6.8 per cent and Kisan Vikas Patra will give a yield of 6.2 per cent and mature in 138  months. 

The girl child savings scheme Sukanya Samriddhi Yojana account will offer 6.9 per cent interest rate instead of earlier 7.6 per cent. Senior citizen savings schemes rate has been lowered from 7.4 per cent to 6.5 per cent quarterly. 


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