SO FAR VISITED

SO FAR VISITIED
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Sunday, November 27, 2011

Changes in interest rates from 01.12.2011 - Points to Remember


Ø  Higher interest Rates will not  only award for small investors  but also make more  cash available to the Government

Instrument
Current
Proposed
Ø  The maturity  period for MIS and NSC will be cut to 5 years from  6 years
Ø  A new NSC instrument with 10 year maturity soon
Ø  Kisan Vikas patras (KVP) will be discontinued
Ø  Investment ceiling on PPF will be increased from ` 70000 to ` 1 lakh
Ø  Rates on loan  against PPF will be increased to 2 % from 1 % p.a
Ø  New interest applicable for balance at credit in account from 01.12.2011

Savings deposit 
3.5 %
4 %
1 – Year Fixed deposit
6.25 %
7.7 %
2 Year Fixed deposit
6.5 %
7.8 %
3 – Year Fixed deposit
7.25 %
8.0 %
5 – Year fixed deposit
7.5 %
8.3 %
5- year Recurring deposit
7.5 %
8.0 %
5 Year SCSS
9.0 %
9.0 %
5 Year MIS
( No Bonus)
8.0
8.2 %
5 Year NSC
8.0
8.4 %
10 Year NSC (New Instrument)
------
8.7 %
PPF
8.0 %
8.6 %
Post


   savings Bank  Schemes interests are going to be changed w.e f 01-12-2011 
Points to remember 
Investment in KVP through Cheque should not be accepted w.e.f. 28.11.2011. If any cheque presented before 28.11.2011 is cleared after 30.11.2011,  the amount should be refunded to depositor. 


After 25.11.2011 while accepting cheques for opening MIS, rubber stamp should be affixed on counterfoil “No Bonus shall be payable if cheque is credited to Govt. Account after 30.11.201


Rate of interests applicable according to the Date of Clearance of cheque




To   download    order     Please  click        SB ORDER 
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