Post Office small savings schemes: From PPF to Senior Citizen to Sukanya Samriddhi, check latest interest rate 2021 | Personal Finance News

New Delhi: Interest rates on Post Office small savings schemes, including –NSC, PPF, Senior Citizen, Sukanya Samriddhi — has been kept unchanged for the third quarter of 2021-22.

Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1 per cent and 6.8 per cent, respectively.

The interest rate on the five-year senior citizens savings scheme would be retained at 7.4 per cent. The interest on the senior citizens’ scheme is paid quarterly.

Interest rate on savings deposits will continue to be 4 per cent per annum.

Term deposits of one to five years will fetch interest rate in the range of 5.5-6.7 per cent, to be paid quarterly, while the interest rate on five-year recurring deposits will earn a higher interest of 5.8 per cent.

Here is the interest rates applicable on various National (Small) Savings Schemes.

Sl.No. Instruments Rate of interest w.e.f 01.04.2020 to 31.12.2020 Compounding Frequency*
01. Post Office Savings Account 4.0 Annually
02. 1 Year Time Deposit 5.5(Annual Interest R. 561 on Rs. 10000 deposit) Quarterly
03. 2 Year Time Deposit 5.5(Annual Interest R. 561 on Rs. 10000 deposit) Quarterly
04. 3 Year Time Deposit 5.5(Annual Interest Rs. 561 on Rs. 10000 deposit) Quarterly
05. 5 Year Time Deposit 6.7(Annual Interest R. 687 on Rs. 10000 deposit) Quarterly
06. 5 Year Recurring Deposit Scheme 5.8 Maturity value for Rs. 100 Dn. 5 Year = 6969.67 After extension with deposit. 6 Year = 8620.98 7 Year= 10370.17 8 Year= 12223.03 9Year= 14185.73 10Year=16264.76 Quarterly
07. Senior Citizen Savings Scheme 7.4(Quarterly interest Rs. 185 on Rs. 10000 deposit) Quarterly and Paid
08. Monthly Income Account 6.6(Monthly int. Rs. 55 on Rs. 10000 deposit) Monthly and paid
09. National Savings Certificate (VIII Issue) 6.8(Maturity Value Rs. 1389 for Rs.1000 deposit) Accrued Interest for IT purpose for Rs. 1000 Dn. 1stYear= Rs.68.00 2ndYear=Rs.72.62 3rd Year=Rs.77.56 4th Year=Rs.82.84 5th Year=Rs.88.47 Annually
10. Public Provident Fund Scheme 7.1 Annually
11. Kisan Vikas Patra 6.9 (will mature in 124 months) Annually
12. Sukanya Samriddhi Account Scheme 7.6 Annually

The rates of interest on various small savings schemes for the third quarter of the financial year 2021-22 starting from October 1, 2021, and ending on December 31, 2021, shall remain unchanged from the current rates applicable for the second quarter (June 1, 2021 to September 30, 2021) for FY 2021-22.

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