Tribune News Service
New Delhi, December 31
The government on Thursday kept the interest rates on small savings schemes, including PPF and NSC, unchanged for the January-March quarter amid moderating bank deposit rates.
Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1% and 6.8%, respectively. Interest rates for small savings schemes are notified by the Finance Ministry on a quarterly basis.
“The rates of interest on various small savings schemes for the fourth quarter of 2020-21 ending on March 31 shall remain unchanged from those notified for the third quarter (October 1-December 31, 2020)”, the Finance Ministry said.
Accordingly, the interest rate for the five-year Senior Citizens Savings Scheme has been retained at 7.4%. The interest on the senior citizens’ scheme is paid quarterly. Interest rate on savings deposits has been retained at 4% annually.