Department of Economic Affairs under the Ministry of Finance issued the statement ” The rate of interest on various Small Savings Schemes for the second quarter of financial year 2021-22 starting from 1st July, 2021 and ending on 30th September, 2021 shall remain unchanged from the current rates applicable for the first quarter,”.
This seems to be a big relief for many. Because, in last quarter, Government reduced the interest rates drastically and again reverted the same and maintained the status quo. Hence, all expected that during this quarter, Government may reduce the interest rates. However, no such bad thing happened.
Now let us look at the trend of Post Office Small Savings Interest rates of last one year. They are as below.
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