New Delhi: Rates of interest on Put up Workplace small financial savings schemes, together with –NSC, PPF, Senior Citizen, Sukanya Samriddhi — has been saved unchanged for the third quarter of 2021-22.
Public Provident Fund (PPF) and Nationwide Financial savings Certificates (NSC) will proceed to hold an annual rate of interest of seven.1 per cent and 6.8 per cent, respectively.
The rate of interest on the five-year senior residents financial savings scheme can be retained at 7.4 per cent. The curiosity on the senior residents’ scheme is paid quarterly.
Rate of interest on financial savings deposits will proceed to be 4 per cent each year.
Time period deposits of 1 to 5 years will fetch rate of interest within the vary of 5.5-6.7 per cent, to be paid quarterly, whereas the rate of interest on five-year recurring deposits will earn a better curiosity of 5.8 per cent.
Right here is the rates of interest relevant on varied Nationwide (Small) Financial savings Schemes.
|Sl.No.||Devices||Charge of curiosity w.e.f 01.04.2020 to 31.12.2020||Compounding Frequency*|
|01.||Put up Workplace Financial savings Account||4.0||Yearly|
|02.||1 Yr Time Deposit||5.5(Annual Curiosity R. 561 on Rs. 10000 deposit)||Quarterly|
|03.||2 Yr Time Deposit||5.5(Annual Curiosity R. 561 on Rs. 10000 deposit)||Quarterly|
|04.||3 Yr Time Deposit||5.5(Annual Curiosity Rs. 561 on Rs. 10000 deposit)||Quarterly|
|05.||5 Yr Time Deposit||6.7(Annual Curiosity R. 687 on Rs. 10000 deposit)||Quarterly|
|06.||5 Yr Recurring Deposit Scheme||5.8 Maturity worth for Rs. 100 Dn. 5 Yr = 6969.67 After extension with deposit. 6 Yr = 8620.98 7 Yr= 10370.17 8 Yr= 12223.03 9Year= 14185.73 10Year=16264.76||Quarterly|
|07.||Senior Citizen Financial savings Scheme||7.4(Quarterly curiosity Rs. 185 on Rs. 10000 deposit)||Quarterly and Paid|
|08.||Month-to-month Revenue Account||6.6(Month-to-month int. Rs. 55 on Rs. 10000 deposit)||Month-to-month and paid|
|09.||Nationwide Financial savings Certificates (VIII Concern)||6.8(Maturity Worth Rs. 1389 for Rs.1000 deposit) Accrued Curiosity for IT function for Rs. 1000 Dn. 1stYear= Rs.68.00 2ndYear=Rs.72.62 third Yr=Rs.77.56 4th Yr=Rs.82.84 fifth Yr=Rs.88.47||Yearly|
|10.||Public Provident Fund Scheme||7.1||Yearly|
|11.||Kisan Vikas Patra||6.9 (will mature in 124 months)||Yearly|
|12.||Sukanya Samriddhi Account Scheme||7.6||Yearly|
The charges of curiosity on varied small financial savings schemes for the third quarter of the monetary 12 months 2021-22 ranging from October 1, 2021, and ending on December 31, 2021, shall stay unchanged from the present charges relevant for the second quarter (June 1, 2021 to September 30, 2021) for FY 2021-22.