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Must Know! New rate of interest on various small savings schemes

Must Know! New rate of interest on various small savings schemes

Know the new rate of interest on various small savings schemes for the first quarter of financial year 2016-17.

 

Core banking facility available at over 20K post offices

Customers with Post Office savings can now operate their accounts from 20,106 branches as they have been connected with core banking facility, Telecom Minister Ravi Shankar Prasad said on Monday.

Govt cuts rates on short-term post office schemes by 0.25%

Govt cuts rates on short-term post office schemes by 0.25%

The government on Tuesday cut rates on short-term post office deposits by 0.25 percent but left long-term instruments such as MIS, PPF, senior citizen and girl child schemes untouched.

Bank FDs to fetch poor interest; PPF, NSC rates set to fall

Bank FDs to fetch poor interest; PPF, NSC rates set to fall

Interest rate on various small savings like PPF, NSC and Post Office savings are set to fall as the government is contemplating reduction in rates.

Now, double your money in 100 months with Kisan Vikas Patra

Investments in KVP will remain under a lock-in for a period of 2.5 years and thereafter in any block of six months on pre-determined maturity value.

Govt to relaunch Kisan Vikas Patra Tuesday; money to double in 100 months

In view of popular demand, the government will on Tuesday relaunch saving instrument Kisan Vikas Patra (KVP), wherein the invested money will get doubled in 8 years and 4 months.

Returns on post office savings still favourable: Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia Monday justified the lowering of rate of interest on small saving schemes saying the returns remain favourable to depositors in real term.

PPF, post office small savings interest rates cut by 0.1%

Millions of small savers and PPF account holders will earn less on their post office savings schemes, with the government deciding to reduce interest rates on them marginally by 0.10 percent.

Over Rs 750 cr lying in inactive post office saving A/Cs: Govt

West Bengal led the tally of unclaimed deposits with over Rs 107 crore lying in 20.16 lakh accounts, followed by Tamil Nadu (Rs 105.87 crore in 62.72 lakh accounts) and Uttar Pradesh (Rs 68.61 crore in 21.74 lakh accounts).

Encourage formal saving instruments more than gold: Assocham

The government must encourage investors to utilise other financial options to help boost the economy instead of relying on gold imports as they are unsustainable and intensify current account deficit, industry body Assocham Thursday said.

Post office savings scheme interest rates not floating: Fin Min

The government on Wednesday said interest rates on post office savings schemes, except the PPF, will remain fixed throughout the term of the scheme.

8.7% interest on new post office savings scheme

The government will introduce a new post office savings scheme of 10-year maturity effective from Dec 1 that will earn annual compound interest rate of 8.7 percent.

PO savings accounts taxable from current fiscal

The government has decided to levy tax on the interest obtained on Post Office savings schemes from the current financial year.