Interest Rates of Small Savings Schemes

The interest rates on small savings schemes, including PPF, NSC, and Sukanya Samriddhi Yojana, have been kept unchanged for the first quarter of 2022-23. This decision has been taken by the government keeping in mind the elevated level of inflation.


  • Since the first quarter of 2020-21, the interest rate has not been revised.
  • On a quarterly basis, the interest rates for small savings schemes are notified.

Rates of the schemes

The annual interest rate for Public Provident Fund (PPF) is 7.1 percent. The annual interest rate for National Savings Certificate (NSC) remains 6.8 percent in the first quarter. The interest for the one-year term deposit scheme will continue to remain at 5.5 percent. The interest rate in the girl child savings scheme named Sukanya Samriddhi Yojana account will remain at 7.6 percent. The interest rate remains at 7.4 percent for the five-year senior citizens’ savings scheme. For the senior citizens’ scheme, the interest is paid on a quarterly basis. 4 percent per annum is the interest rate on savings deposits and it will continue to remain so in the first quarter of the financial year. A range between 5.5 to 6.7 percent remains the interest rate for term deposits of one to five years and it will be paid quarterly. 5.8 percent is the interest rate that will be earned on five-year recurring deposits.



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