Government To Hike Interest Rates ON PPF, Sukanya Samriddhi Yojana, NSC And Post Office Deposit Schemes
Small Saving Schemes News: Within a few hours, investors investing...
Small Saving Schemes News: Within a few hours, investors investing in savings schemes like NSC, PPF and Sukanya Samriddhi Yojna are going to get big gifts. The government is about to announce to increase the interest rates on post office savings schemes including these schemes. So be happy. Because from July 1, 2022, you are going to get tremendous returns on investment in these schemes.
In fact, due to rising inflation, fears of increasing interest rates, there has been a tremendous jump in the yield on government bonds in the last one year. In such a situation, it is believed that schemes like PPF, NSC and Sukanya Samriddhi Yojana, which are linked with these bonds, are sure to increase their interest rates. The Gopinath Committee had recommended in 2011 that interest rates on such small savings schemes should be 25 to 100 basis points higher than the yield of government bonds.
It is expected that from July 1, 2022, the Finance Ministry can announce to increase the interest rates on the government’s savings schemes from 0.50 to 0.75 percent. The government’s 10-year bond yield has risen from 6.04 per cent to 7.46 per cent in 12 months. According to this formula, the interest on PPF is likely to be increased from 7.1 percent to 7.81 percent. The interest rate on Sukanya Samriddhi Yojana can be increased from 7.6 percent to 8.10 percent. At present, 7.40 percent interest is available on Senior Citizen Saving Scheme, which can be increased to 8.31 percent. Let us tell you that the Finance Ministry reviews and announces the interest rates of government savings schemes before the start of every quarter.
At present, Public Provident Fund (PPF) gets 7.1 percent annual interest rate, NSC i.e. National Saving Certificate is getting 6.8 percent annual interest. Interest is getting 7.6 percent on Sukanya Samridhi Yojna and 7.4 percent interest on Senior Citizen Tax Saving Scheme. Kisan Vikas Patra is getting 6.9 percent interest. One year fixed deposit Interest rate of 5.5 percent is being given on the scheme, 5.5-6.7 percent interest rate on one to five year fixed deposit and 5.8 percent interest is being given on five year deposit scheme. There has been no change in the interest rates of Rs.
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