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Tuesday, 26 March 2013

PPF and NSC interest rate reduced

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Hundreds of thousands of investors will now get lower returns on small savings schemes like Public Provident Fund (PPF) and National Savings Certificates, with the government pruning the interest rate by 0.1 percent.


The interest rate on PPF has now been cut to 8.7 per cent from 8.8 percent with effect from 1 April, 2013, while the rate on five-year NSC has been cut to 8.5 percent from 8.6 percent, and that on 10-year NSC to 8.8 percent from 8.9 percent.


The finance ministry, which cut the rates, has however left the savings deposit rate and the one-year time deposit rate unchanged.


The savings deposit rate has been left unchanged at 4 percent and the one-year term deposit too stays at 8.2 per cent.

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1 comment:

  1. Ah! Thanks heavens. I wanted to know about income tax benefit on home loan and think I will find my way from here. It was good coming across this post. I really want to invest and buy a house of my own but have to be sure about certain things.

    ReplyDelete

Mutual Fund Application Forms Download Any Applications
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