Savings scheme

PPF, other small savings rates unchanged. Check out the latest prices here

The government today kept the interest rates on small savings plans, including that of the Public Provident Fund or PPF, unchanged for the January-March quarter. The interest rates for small savings plans are revised quarterly. The interest rates of the various small savings plans for the fourth quarter 2020-2021, from January 1 and ending on March 31, 2021, will remain unchanged from those notified for the third quarter (October to December), the government said in a statement. declaration.

Besides the PPF, the government offers many small savings schemes including Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Term Deposits, and Savings Scheme for the Elderly ( SCSS). The popular Sukanya Samriddhi Yojana Girls Savings Plan account continues to offer the highest interest rate among small savings plans.

Here are the interest rates on various small savings plans:

1) Public Provident Fund (PPF): The popular fiscal long-term savings plan, with a maturity of 15 years, yields 7.1%. Investors can benefit from a partial withdrawal after 5 years, while they can also extend the account beyond 15 years. A minimum deposit of ??500 per year is required to keep the account active.

2) Senior Savings Plan (SCSS): Investors aged 60 can deposit up to ??15 lakh in a senior savings plan to earn regular interest income on a quarterly basis. The senior plan offers an interest rate of 7.4%.

3) Sukanya Samriddhi Yojana (SSY): He will continue to charge an interest rate of 7.6%. A maximum of 2 accounts is allowed for a household of two girls individually.

4) Term deposits at a post office: You can also open term deposits at a post office for terms of 1, 2, 3 or 5 years. It is similar to term deposits offered by banks. The 1 to 3 year postal term deposits give an interest rate of 5.5%. The five-year term deposit gives 6.7%.

5) 5 years Post Office RD: This recurring deposit system offered by post offices will give new investors an interest rate of 5.8%.

6) National Savings Certificate (NSC): This 5-year program offers 6.8% compounded annually but payable at maturity. ??1000 grows to ??1389.49 after 5 years.

7) The Kisan Vikas Patra (KVP) will mature or double in value in 124 months (10 years and 4 months), i.e. an interest rate of 6.9%.

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