Small Savings Scheme interest rates for the period - July to September 2021

 Small Savings interest rates for the Q2FY22(July to September) have been announced recently. It is noteworthy that the interest rates for Small Savings Scheme would be announced by every quarter. According to the recent report, the interest rates will remain same as last time(April to June 2021). 

Generally Savings Account Deposit, Recurring Deposit, Term Deposits, Monthly Income Scheme(MIS), NSC, Kisan Vikas Patra, Public Provident Fund(PPF) are coming under the Small Savings Scheme. Small Savings Schemes are available in Post Offices and Banks across India.

Senior Citizens Savings Scheme(SCSS), Sukanya Samriddhi for the Girl Child were also included in the Small Savings Category. It is noteworthy that the interest rates on small savings has been declining over the past few years. This lead and attracts to invest in Low risk product mutual funds like Liquid Funds and Debt Funds(Low to Moderate) in the current scenario.

 

The current interest rate for the Public Provident Fund is about 7.10 Percent. Sukanya Samriddhi provides 7.60 Percent and the SCSS comes with 7.40 Percent. The Tax Savings product like Kisan Vikas Patra(KVP) attracts with 6.90 Percent and National Savings Certificate(NSC) with 6.80 Percent.

For the Term Deposits - it comes with 5.5 Percent for the One year, Two and Three year tenure. However the 5 Years Term Deposit provides 6.70 Percent. The Monthly Income Scheme under the Small savings plan, it gives 6.60 Percent.

On the familiar plan, the Recurring Deposit (5 Years) gives 5.80 Percent interest rate which is coming under the Small Savings Category. The Savings Account Deposit gives around 4 Percent, where the bank savings account which comes less than 4 Percent. 

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