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Heavy Cuts on Interest Rates of PPF, NSC, and Post Office Small Savings now Uplifted
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Heavy Cuts on Interest Rates of PPF, NSC, and Post Office Small Savings now Uplifted
The Government has now rolled back the Interest Cuts on PPF, NSC, and Post Office Small Savings schemes which is a sigh of relief for fixed income investors.
by FighterMan
Updated: 26 Jan, 2022, 14:30 IST
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The government recently introduced heavy cuts on Interest Rates of PPF, NSC, and Post Office Small Savings schemes for the 1st quarter of FY 2021-22. Due to this, PPF interest went down by 0.7%, NSC by 0.9%, and 1 year post deposit by 1%.
Today, our FM Nirmala Sitharaman tweeted that these cuts are taken back and are no longer valid. This means that the rates will now be similar to that in Jan-Mar 2021. On the other hand, banks are offering in the average range of 5-5.5%. Besides, you can have a look at the Top 5 ETFs in India to invest in 2021 using SIP for more options.
Current vs Proposed Interest Rates on PPF, NSC, and Post Office Small Savings Scheme
Let's check on Current vs Proposed Interest Rates on PPF, NSC, and Post Office Small Savings Scheme. This will help us know that if the cuts would have been implemented then how much interest would be lost.
Post Office Deposit Schemes |
Current Interest Rate for April-June 2021 |
Proposed Interest Rate for April-June 2021 which is now Cancelled |
Savings |
4 |
3.5 |
1 Years |
5.5 |
4.4 |
2 Years |
5.5 |
5 |
3 Years |
5.5 |
5.1 |
5 Years |
6.7 |
5.8 |
5 Year Recurring |
5.8 |
5.3 |
5 Year Senior Citizen |
7.4 |
6.5 |
5 Year Salary |
6.6 |
5.7 |
5 Year NSC(National Savings Certificate) |
6.8 |
5.9 |
PPF(Public Provident Fund) |
7.1 |
6.4 |
Kisan Vikas Patra |
6.9 |
6.2 |
Sukanya Samriddhi Yojana |
7.6 |
6.9 |
Should Interest Rates be improved or are satisfactory? You can share your views in the comments below.
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