Government keeps PPF, SSY interest rates unchaged for July-Sep quarter
If you have invested in Sukanya Samriddhi Yojana, PPF or any other small savings scheme, then you may get a big setback. Actually, the central government has not changed the interest rates on small savings schemes like Public Provident Fund (PPF) and National Savings Certificate (NSC) for the July-September quarter today. Let us tell you that this is the 9th consecutive quarter when the government has not increased the interest rate.
Government took a big decision
After this decision of the government, the interest rate of other post office savings schemes including Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), National Saving Certificate (NSC), Kisan Vikas Patra (KVP) and Sukanya Samriddhi Yojana will remain the same. Although people expected this time that perhaps this time the government can increase the interest rates of all these schemes.
What is Sukanya Samriddhi Yojana?
Sukanya Samriddhi Yojana (SSY) is such a long-term scheme, by investing in which you can be sure about your daughter’s education and future. For this you do not even need to invest a lot of money. Many major changes are taking place in this plan. Under the new rules, the provision of reversing the wrong interest in the account has been removed.
How much interest will you get now?
At present, interest of 7.60% is available in this scheme and will be available on this for the next 3 months. At the same time, interest of 6.8% will be available on National Savings Certificate (NSC), 7.1% interest will continue to be available on Public Provident Fund ie PPF. An interest of 6.9% will be given on Kisan Vikas Patra and senior citizens will get an interest of 7.4%.
No change since April 2020
Significantly, there has been no change in the interest rates of small savings schemes since the first quarter of the year 2020-21. Earlier, the Finance Ministry said in a notification, the interest rate on various small savings schemes for the first quarter of the financial year 2022-23, starting from April 1, 2022, and ending on June 30, 2022, for the fourth quarter (January) will remain unchanged from the current rates applicable. The interest rates for small savings schemes are revised on a quarterly basis.
