Small Savings Scheme interest rates for the period - October to December 2021

 Small Savings Scheme interest rates for the period - October to December 2021

Interest Rates on Small Savings Scheme were announced recently for the period between October - December, which is the third quarter of the current fiscal year 2021-22. The rates are subject to change on a quarterly basis. 

According to the data released by the Ministry of Finance, the interest rates are unchanged from the current rates which is said in the July to September 2021 quarter. So, there is no change in the rates for the period of October - December 2021.

Most of the Savings plan were available in Banking and Postal Offices are coming under the Small Savings Scheme, Ministry of Finance. For the Term deposit of one year, two year and three years the interest rates are said to be 5.5 Percent. However it is 6.7 Percent for the 5 years Term Deposit savings plan.

The 5 years Senior Citizen Savings Scheme(SCSS) comes with 7.4 Percent and 5 years monthly income scheme which provides 6.6 Percent rate under the Small Savings Scheme. For the Recurring Deposit(5 years), it comes with 5.8 Percent.

National Savings Certificate(NSC) which offers tax savings, has an interest rate of 6.8 Percent and the tenure is 5 years. The Public Provident Fund(PPF) holds 7.1 Percent rate and the Sukanya Samriddhi account fetches 7.6 Percent.

Earlier in the year 2019, Sukanya Samriddhi account were provided around 8.5 Percent interest rate. KVP(Kisan Vikas Patra) has an interest rate of 6.9 Percent. Over the past few years, the small savings interest rates has been declining in the sight of Inflation. 

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