Interest Rates Unchanged on Small Savings

The government has kept interest rates unchanged on small savings schemes, including National Savings Certificate and Public Provident Fund, for the second quarter of 2022-23 amid high inflation and rising interest rate.

The interest rate on small savings schemes has not been revised since the first quarter of 2020-21.

PPF and NSC will continue to draw an annual interest rate of 7.1% and 6.8 %, respectively, in the second quarter of this fiscal.

Interest rates for small savings schemes are notified on a quarterly basis.

The one-year term deposit scheme will continue to earn an interest rate of 5.5% in Q2. 

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