The government has decided to keep the interest rates on small savings schemes unchanged for the quarter ending September 30, 2021, for fixed income investors. It will provide relief to senior citizens and lower-income earners will continue to earn higher interest income than fixed deposits in banks.
“The rate of interest on various small savings schemes for the second quarter of the financial year 2021-22 starting from 1 July 2021, and ending on 30 September 2021, shall remain unchanged from the current rates applicable for the first quarter (1 April 2021, to 30 June 2021, for FY 2021-22),” an office memorandum of Department of Economic Affairs said.
