Interest Rates increased on PPF, NSC, Post Office Monthly Income Schemes etc
Interest Rates on Small Savings Instruments
2. The rate of interest on small savings schemes will be aligned with Government Securities rates of similar maturity, with a spread of 25 basis points (bps) with two exceptions. The spread on 10 year NSC (new instrument) will be 0.50% and on Senior Citizens Savings Scheme 1.00%. The interest rates for every financial year will be notified before 1stApril of that year.
3. Assuming the date of implementation of the recommendations of the Committee as1stDecember, 2011, the rate of interest on various small savings schemes for current financial year on the basis of the interest compounding/payment built in the schemes, will be as given below (See chart)
4. Payment of 5% bonus on maturity of MIS will be discontinued.
| Instrument | Current rate | Proposed Rate |
| Savings Deposit 3.50 4.0 | 3.50 | 4.00 |
| 1 year Time Deposit | 6.25 | 7.70 |
| 2 year Time Deposit | 6.50 | 7.80 |
| 3year Time Deposit | 7.25 | 8.00 |
| 5 year Time Deposit | 7.5 | 8.30 |
| 5 year Recurring Deposit | 7.5 | 8.00 |
| 5-year SCS | 9.00 | 9.00 |
| 5 year MIS | 8.00 | 8.20 |
| 5 year NSC | 8.00 | 8.40 |
| 10 year NSC | New | 8.70 |
| PPF | 8.00 | 8.60 |
Best Regards
Prakash Nair
www.keralites.net          |
__._,_.___
KERALITES - A moderated eGroup exclusively for Keralites...
To subscribe send a mail to Keralites-subscribe@yahoogroups.com.
Send your posts to Keralites@yahoogroups.com.
Send your suggestions to Keralites-owner@yahoogroups.com.
To unsubscribe send a mail to Keralites-unsubscribe@yahoogroups.com.
Homepage: www.keralites.net
To subscribe send a mail to Keralites-subscribe@yahoogroups.com.
Send your posts to Keralites@yahoogroups.com.
Send your suggestions to Keralites-owner@yahoogroups.com.
To unsubscribe send a mail to Keralites-unsubscribe@yahoogroups.com.
Homepage: www.keralites.net
MARKETPLACE
.
__,_._,___
No comments:
Post a Comment