Sunday, 6 January 2019

From now on 1 year post office deposit will get so much interest, the government has announced a new rate


From now on 1 year post office deposit will get so much interest, the government has announced a new rate



The government has announced interest rates on the small savings schemes for the January-March quarter. Post office has changed interest rates on time deposit schemes. However. There has been no change in interest rates on PPF (Public Debt Fund), Sukanya prosperity schemes and Senior Citizen Savings Schemes. The Finance Ministry has notified the notification on 31 December.



The government has hiked interest rates on a one-year term post office deposit scheme by 0.10 per cent. The interest rate on this scheme will now be 7%, which was 6.9% in the previous quarter. Interest rates on three-year deposit schemes have been reduced. Now the interest rate on the three-year deposit scheme will be 7%. This rate was 7.2 percent in the previous quarter now.

There is no change in the interest rates available in deposit schemes of 2 years and 5 years. 7% on a 2 year scheme, and a 5-year scheme will get an interest of 7.8%. Apart from this, there has been no change in interest rates on the 5-year post office rental deposit scheme. It will get interest at 7.3% rate as before.

In Public Provident Fund (PPF) and 5-year National Savings Certificates (NSC), interest will be available at an annual rate of 8% on an annual basis. While there is no change in interest rates on the monthly income account for 5 years. It will be given 7.7% interest as before.

8.7% on Senior Citizen Savings Schemes in the January-March quarter, and Sukanya Samguna account will be given 8.5% interest like last quarter. Apart from this, the Kisan Vikas Patra will also get interest at 7.7%, like the previous quarter. Its maturity period will be 112 months.

Earlier, in the October-January quarter, the government had modified rates of various small saving schemes. Then, the interest rates on small saving schemes such as Public Provident Fund (PPF), Kisan Vikas Patra (KVP), National Savings Certificate (NSC), Monthly Income Scheme, Senior Citizen Savings Schemes and Sukanya Prosperity increased by 40 basis points (0.40%) Was there.

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