Government keeps interest rates on Small Savings Schemes unchanged for Q1 of 2022-23 (April-June 2022)
- The Ministry of Finance has decided to keep the interest rates unchanged on small savings schemes or post office schemes for the Quarter -1 of FY2022-23 (April-June 2022).
- The interest rates on the various instruments for April-June 2022 range from 4.0 percent to 7.6 percent.
- It must be noted that the Government notifies the Interest rates for small savings schemes on a quarterly basis.
- This is the eighth consecutive quarter when the interest rates on small savings instruments remained unchanged.
Various Interest Rates for Quarter-1 (April-June) of 2022-23 are listed below:
|Small Savings Instruments||Interest Rate For Apr-June 2022||Compounding frequency|
|One-year time deposit||5.5%||Quarterly|
|Two-year time deposit||5.5%||Quarterly|
|Three-year time deposit||5.5%||Quarterly|
|Five-year time deposit||6.7%||Quarterly|
|Five-year recurring deposit||5.8%||Quarterly|
|Senior Citizen Savings Scheme||7.4%||Quarterly and Paid|
|Monthly Income Account||6.6%||Monthly and Paid|
|National Savings Certificate||6.8%||Annually|
|Public Provident Fund Scheme||7.1%||Annually|
|Kisan Vikas Patra||6.9%||Annually|
|Sukanya Samriddhi Account Scheme||7.6%||Annually|
Source: Economic Times