The NSC scheme is available at all NSC post offices and the Indian Government promotes the NSC scheme. Due to the number of post offices present in India and the easy access to these post offices, the scheme has become very popular in India.Rate of interest: Currently, the rate of interest has been reduced from increased from 6.8% to 7%. and it is compounded on an annual basis. However, the interest is payable only at maturity.
The interest rate on the senior citizen savings scheme and Kisan Vikas Patra (KVP) is 8.2 per cent (up from 8 per cent) and 7.6 per cent (up from 7.2 per cent), respectively.
Investors in the popular small saving schemes Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA), whose rates have not been hiked since January 2019, are unlikely to get higher returns anytime soon, a top government official has indicated. The last time the PPF and SSA rates were tweaked was when they were slashed sharply in April 2020 along with the returns on other small savings schemes. At the time, the PPF rate was brought down to 7.1% from 7.9%, while the SSA's returns were pared to 7.6%.
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