Rates On All Small Savings Instruments Reduced

02 April 2021 Current Affairs:The government has drastically reduced the interest rates on all small savings instruments in the first quarter of 2021-22. Highlights: ♦ Rate of return on the Public Provident Fund: Reduced from 7.1% to 6.4%   ♦ Quarterly interest rate paid on one-year term deposits: Reduced from 5.5% to 4.4%  ♦ Rate of return on the Senior Citizen Savings’ Scheme: Reduced from 7.4% to 6.5%,  ♦ Sukanya Samriddhi Account Scheme’s return: Reduced from 7.6% to 6.9%. ♦ Interest rate paid on National Savings Certificate: from 6.8% to 5.9%  ♦ Kisan Vikas Patra: Reduced from 6.9% to 6.2%. ♦ Kisan Vikas Patra used to mature in 124 months and will now mature in 138 months. ♦ Savings deposits: Down from 4% to 3.5%.  ♦ The highest return at this time is the Sukanya Samriddhi Account Scheme, followed by the Seniors Savings Schemes and the Public Provident Fund.