Tuesday, June 28th, 2022 23:50:50

Govt keeps interest rates of PPF & other small saving schemes unchanged for third quarter of current fiscal

Updated: October 1, 2021 1:14 pm

Government has kept interest rates on the popular Public Provident Fund (PPF) and other small saving schemes unchanged for the third quarter of current fiscal.

A circular issued by the finance ministry said that PPF will continue to earn 7.10%, NSC 6.8%, and Post Office Monthly Income Scheme Account will earn 6.6% interest during the October-December quarter. The status quo on small savings schemes rates comes as a big relief for savers amid low interest rates provided by banks on fixed deposits. The rates provided by the government on these schemes are between 100-250 basis points higher than the rates provided by banks on similar deposits.

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