PO savings deposits to fetch 4% interest

A govt panel has suggested raising interest rates for post office savings deposits to 4% from 3.5%.

New Delhi: A government committee has suggested raising interest rates for post office savings deposits to 4 percent from 3.5 percent at present, in line with the Reserve Bank`s decision to hike rates on savings bank deposits.

It has also suggested that Kisan Vikas Patra (KVP) be withdrawn and annual investment limit for the popular Public Provident Fund (PPF) be raised to Rs 1 lakh from Rs. 70,000 at present. To Read Full story – Click Here»

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