None
Skip to mainThursday, the central government decided to maintain the same interest rates on small savings plans such as Sukanya Samriddhi Yojana, Senior Citizens Savings Scheme, and Public Provident Fund (PPF) for the July-September quarter of 2022. This is the eleventh consecutive month that the interest rates on these plans have remained unchanged.
Small Savings Schemes are government-managed savings vehicles intended to encourage residents to save consistently. The programmes are divided into three categories: savings accounts, social security plans, and a monthly income plan.
There are 1-3-year time deposits and 5-year recurring deposits in the savings account. Also included are National Saving Certificates (NSC) and Kisan Vikas Patra savings certificates. The initiatives for social security include the Public Provident Fund, the Sukanya Samriddhi Account, and the Senior Citizens Savings Scheme. Monthly Income Account is a component of the monthly income plan.
The interest rates for modest savings schemes are evaluated quarterly. The revision reflects the movement of comparable maturity benchmark government bonds.
"The interest rates on various small savings schemes for the second quarter of the financial year 2022-23, beginning on July 1, 2022, and ending on September 30, 2022, shall remain unchanged from those notified for the first quarter (April 1, 2022 to June 30, 2022) for FY 2022-23," the finance ministry said in a statement.
Sl. |
Savings Scheme |
Rate of interest w.e.f |
01. |
Post Office Savings Account |
4.0 |
02. |
1 Year Time Deposit |
5.5 |
03. |
2 Year Time Deposit |
5.5 |
04. |
3 Year Time Deposit |
5.5 |
0fi. |
5 Year Time Deposit |
6.7 |
06. |
5 Year Recurring Deposit Scheme |
5.8 |
07. |
Senior Citizen Savings Scheme |
7.4 |
08. |
Monthly Income Account |
6.6 |
09. |
National Savings Certificate (VIII Issue) |
6.8 |
10. |
Public Provident Fund Scheme |
7.1 |
11. |
Kisan Vikas Patra |
6.9 (will mature in 124 months) |
12. |
Sukanya Samriddhi Account Scheme |
7.6 |
🕑 20 Sep,23 11:46a.m.
RCSWS demands pension hike at @ 5% at the age of 65, 70, 75 & 80
🕑 20 Sep,23 11:24a.m.
Merger of grades of PAO (Level 9) & SrAO (Level 10) & pay fixation
🕑 20 Sep,23 11:12a.m.
RSCWS DEMANDS RELHS benefits either for their Parents or Parents-in-law
🕑 19 Sep,23 9:59a.m.
Pay Fixation of CPSE Board Level Executives - Clarification
🕑 19 Sep,23 9:52a.m.
62nd NC JCM Standing Committee meeting to be held on 20.09.2023
🕑 15 Sep,23 11:03p.m.
Govt extends APAR deadlines for All India Services officers
🕑 15 Sep,23 10:54p.m.
A Rath Yatra by teachers' union demanding return of the Old Pension Scheme
🕑 09 Sep,23 9:08p.m.
How to check your National Pension Scheme balance without using the Umang app
🕑 02 Sep,23 8a.m.
What happens if DA crosses 50%? DA merger? 8th Pay Commission?
🕑 19 Aug,23 9:22a.m.
ICMR studiying on Sudden Deaths’ of youngsters in post COVID world
🕑 17 Aug,23 4:27p.m.
Section 197 of CrPC: A Safeguard Against Harassment of Public Servants
🕑 17 Aug,23 4:20p.m.
Benefits for being a central government employee
🕑 17 Aug,23 4:16p.m.
Some thoughts on 8th Central Pay Commission (CPC)
🕑 15 Aug,23 7:21p.m.
Empowering India's Future: Key Insights from PM Modi's Independence Day Address
🕑 07 Jun,23 10:56a.m.
Central Government Health Scheme (CGHS): A Comprehensive Guide
🕑 13 Apr,23 3:19p.m.
Pension system revision, will it go back to the old way?.