The Savings Bank Account Rates were freed by RBI some time back.
Alongside, the Small Savings Rates are also revised and benchmarked to G-Sec.
This has initiated volatility in the rates on an annual basis.
| NEW RATES
|
| Instrument |
| Old Rates (%) |
| New Rates (%)
|
| Post Office Savings Deposit |
| 4.00 |
| 4.00
|
| 1-year term deposit |
| 7.70 |
| 8.20
|
| 2-year term deposit |
| 7.80 |
| 8.30
|
| 3-year term deposit |
| 8.00 |
| 8.40
|
| 5-year term deposit |
| 8.30 |
| 8.50
|
| 5-year recurring deposit |
| 8.00 |
| 8.40
|
| 5-year SCSS |
| 9.00 |
| 9.30
|
| 5-year MIS |
| 8.20 |
| 8.50
|
| 5-year NSC |
| 8.40 |
| 8.60
|
| 10-year NSC |
| 8.70 |
| 8.90
|
| PPF |
| 8.60 |
| 8.80
|
 |
| Rate change applicable from April 1, 2012
|
|
|
So gone are the days when you bought some certificate and kept it till the child reach school age/marriage age!! Financial Planning become centre-stage.
Are you reday?
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