If you are thinking of investing in risk-free saving schemes then here's your chance to do some investments. Post Office schemes offer safe investment options for people who don't want to take a risk with their money. National Savings Certificate, Sukanya Samriddhi Yojana, Senior Citizens Savings Scheme or Public Provident Fund (PPF) schemes have best returns on them.
These savings schemes have not seen a hike in the interest rates since a long time. However, it is expected that the government may consider to increase the interest rates of PPF, NSC or SSY scheme interest rates in June, according to media reports.
The annual interest rate for Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to be 7.1 per cent and 6.8 per cent, respectively.
One-year term deposit scheme will continue to have an interest rate of 5.5 per cent. Whereas, Sukanya Samriddhi Yojana account will have a 7.6 per cent rate of interest.
The interest rate on savings deposits will be retained at 4 per cent per annum.
National Savings Certificates (NSC), KVP, Time-deposits, Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY) etc., have retained the same rate of interest as that of the previous quarter of July- August-September quarter of 2021.
Here is the interest rates applicable on various National (Small) Savings Schemes.
Current Interest Rates on Post Office Schemes
- Public Provident Fund: 7.1 per cent
- National Savings Certificate: 6.8 per cent
- Sukanya Samriddhi Yojana: 7.6 per cent
- Kisan Vikas Patra: 6.9 per cent
- Savings Deposit: 4 per cent
- 1-Year Time Deposit: 5.5 per cent
- 2-Year Time Deposit: 5.5 per cent
- 3-Year Time Deposit: 5.5 per cent
- 5 Year Time Deposit: 6.7 per cent
- 5 Year Recurring Deposit: 5.8 per cent
- 5-year Senior Citizen Savings Scheme: 7.4 per cent
- 5-year Monthly Income Account: 6.6 per cent
