Small Saving Schemes: A setback for those investing in PPF, Sukanya Samriddhi Yojana

Small Saving Schemes News: Investors in small government savings schemes have suffered a major setback. Despite the increase in the repo rate by the RBI and the increase in the yield of government bonds, the government decided not to increase the interest rates on savings schemes like NSC, PPF and Sukanya Samriddhi Yojna in the month of July to September. has done. The Department of Economic Affairs, Ministry of Finance has said that the interest rates on small savings schemes will remain the same which was applicable from April 1, 2022 to June 2022.

In fact, there has been a tremendous jump in rising inflation, rising interest rates and the yield on government bonds in one year. In such a situation, it was believed that the interest rates of schemes like PPF, NSC and Sukanya Samriddhi Yojana which are linked with these bonds will increase. The Gopinath Committee had recommended in 2011 that interest rates on such small savings schemes should be 25 to 100 basis points higher than the yield of government bonds. But the Finance Ministry has decided not to change the interest rates on these savings schemes in the second quarter of 2022-23.

At present, Public Provident Fund (PPF) gets 7.1 percent annual interest rate, NSC i.e. National Saving Certificate is getting 6.8 percent annual interest. Interest is getting 7.6 percent on Sukanya Samridhi Yojna and 7.4 percent interest on Senior Citizen Tax Saving Scheme. Kisan Vikas Patra is getting 6.9 percent interest. One year fixed deposit Interest rate of 5.5 percent is being given on the scheme, 5.5-6.7 percent interest rate on one to five year fixed deposit and 5.8 percent interest is being given on five year deposit scheme. There has been no change in the interest rates of Rs.

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