Categories: Economy

GoI keeps interest rates on Small Savings Schemes unchanged for Q1 (April-June 2022)

The Ministry of Finance has decided to keep the interest rates unchanged on small savings schemes or post office schemes for the Quarter -1 of FY2022-23 (April-June 2022). The interest rates on the various instruments for April-June 2022 range from 4.0 per cent to 7.6 per cent. It must be noted that the Government notifies the Interest rates for small savings schemes on a quarterly basis. This is the eighth consecutive quarter when the interest rates on small savings instruments remained unchanged.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Interest Rates for Quarter-1 (April-June) of 2022-23 are listed below:

Small Savings Instruments	Interest Rate For Apr-June 2022	Compounding frequency
Savings deposit	4.0%	Annually
One-year time deposit	5.5%	Quarterly
Two-year time deposit	5.5%	Quarterly
Three-year time deposit	5.5%	Quarterly
Five-year time deposit	6.7%	Quarterly
Five-year recurring deposit	5.8%	Quarterly
Senior Citizen Savings Scheme	7.4%	Quarterly and Paid
Monthly Income Account	6.6%	Monthly and Paid
National Savings Certificate	6.8%	Annually
Public Provident Fund Scheme	7.1%	Annually
Kisan Vikas Patra	6.9%	Annually
Sukanya Samriddhi Account Scheme	7.6%	Annually

Find More News on Economy Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.