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Small Savings Scheme Rate Slashed For April-June Qtr: Know The Revised Rates
For the quarter beginning tomorrow, finance ministry has announced rate on small savings scheme. Here are the new rates for the different small savings schemes:
| Small Saving Scheme | Previous rates | New rate for April-June quarter of FY22 |
|---|---|---|
| Savings account | 4% | 3.5% |
| 1-year time deposit | 5.5% | 4.4% |
| 2-year time deposit | 5.5% | 5% |
| 3-year time deposit | 5.5% | 5.1% |
| 5-year time deposit | 6.7% | 5.8% |
| 5-year RD | 5.8% | 5.3% |
| Senior citizen savings scheme | 7.4% | 6.5% |
| PPF | 7.1% | 6.4% |
| Kisan Vikas Patra | 6.9% | 6.2% |
| Sukanya Samriddhi Account | 7.6% | 6.9% |
The rates are brought to match with the overall interest rate scenario in the broader financial system.
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