The Narendra Modi government on Thursday has kept the interest rates on small savings schemes, including PPF and NSC, unchanged for the January to March quarter.
The government said in a statement, "The rates of interest on various small savings schemes for the fourth quarter of 2020-21, starting from January 1 and ending March 31, 2021, shall remain unchanged from those notified for the third quarter (October to December)."
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 percent and 6.8 percent, respectively.
Interest rates for small savings schemes are notified by the Finance Ministry on a quarterly basis.
Accordingly, the interest rate for the five-year Senior Citizens Savings Scheme has been retained at 7.4 percent. The interest on the senior citizens'' scheme is paid quarterly. Interest rate on savings deposits has been retained at 4 percent annually.
The girl child savings scheme Sukanya Samriddhi Yojana will offer 7.6 percent rate during the third quarter of the current fiscal.
The annual interest rate on Kisan Vikas Patra (KVP) has been retained at 6.9 percent.
Term deposits of 1-5 years will fetch an interest rate in the range of 5.5-6.7 per cent, to be paid quarterly, while the interest rate on five-year recurring deposit is pegged at 5.8 percent.
(Edited by : Jomy)
First Published: Dec 31, 2020 5:43 PM IST
