No change in interest rates on small savings schemes including PPF, Post Office

New Delhi: No change has been made in interest rates of various small savings schemes including Post Office, PPF, Kisan Vikas Patra. In a meeting held on Thursday, the central government has decided to keep the current interest rates on small savings schemes or post office schemes unchanged.

This means that for the first quarter of the new financial year 2022-23 from April to June, the interest rate on this small savings plan will remain at the current level. Now speaking of interest rates on small savings schemes for the April-June 2022 quarter, 7.1 per cent on Public Provident Fund (PPF), 7.6 per cent on Sukanya Samrudhi Yojana, 7.4 per cent on Senior Citizen Savings Scheme, 6.8 per cent on National Savings Certificates and 6.8 per cent. The interest rate will be 6.9 per cent per annum.

Amidst the economic uncertainty created by the Koro epidemic, the government has kept interest rates of various small savings schemes stable for the last two years. Notably, the Employees Provident Fund Organization has recently reduced the interest rate on PF for the financial year 2022 from 8.5 per cent to 8.1 per cent, the lowest rate in the last 40 decades. After this incident, even small savings schemes were facing fears of falling interest rates.