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Friday, November 18, 2011

Post office savings deposit is more attractive


The rate of interest on various small savings schemes for current financial year on the basis of the interest compounding/payment built in the schemes, will be as given below:-


Instrument
Current Rate (%)
Proposed Rate (%)
Savings Deposit
3.50
4.0
1 year Time Deposit
6.25
7.7
2 year Time Deposit
6.50
7.8
3 year Time Deposit
7.25
8.0
5 year Time Deposit
7.50
8.3
5 year Recurring Deposit
7.50
8.0
5-year SCSS
9.00
9.0
5 year MIS
8.00 (6 year MIS)
8.2

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