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.