Interest Rate on Small saving has been increased wef 01.04.2012.Earlier saving schemes rates has also been revised wef 01.11.2011.
Sub: Revision of interest rates for small savings schemes.
The undersigned is directed to refer to Ministry of Finance's O.M. of even number dated 11th November, 2011, vide which the various decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned.
2. One of the decisions of the Government based on the recommendations of the Committee relates to revision of interest rates every financial year, to be notified before rt April of that year. Accordingly, the rates of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
Download Increased in interest for PPF,NSc ,Senior citizen saving scheme , Mis (monthly income scheme) rate Notification wef 01.04.2012
w.e.f. 1.12.2011
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w.e.f. 1.4.2012
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Savings Deposit
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4.0
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4.0
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1 year Time Deposit
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7.7
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8.2
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2 year Time Deposit
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7.8
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8.3
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3 year Time Deposit
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8.0
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8.4
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5 year Time Deposit
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8.3
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8.5
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5 year Recurring Deposit
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8.0
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8.4
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5 year SCSS
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9.0
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9.3
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5 year MIS
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8.2
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8.5
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5 year NSC
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8.4
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8.6
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10 year NISC
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8.7
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8.9
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PPF
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8.6
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8.8
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NSC Interest Rate chart From 01.03.2003 to 01.04.2012 is given below to show interest earned on NSC
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| NSC Interest Rate chart From 01.03.2003 to 01.04.2012 is given below to show interest earned on NSC |
Tags:revised interest rates on nsc w.e.f 01.04.2012.New interest on post office saving ,post office saving rate increased , senior citizen saving scheme rate increased, monthly saving scheme rate increased , national saving scheme rate increased ,public provident fund interest rate increased wef 01/04/2012.Recurring deposit rate increased ..Interest rate on Post office time deposit rate increased
Will this rate be applicable for the deposts made earlier or it is applicable only for new deposits
ReplyDeleteExcept PPF New rates are applicable on new investment made on or after 01.04.2012
DeleteFor the amount which is in PPF amount before April 1st 2012, Rate of interest is 8.6%.
ReplyDeleteEffective from April 1st 2012, rate of interest will be 8.8%. In other words, for deposits made earlier also effective from April 1st 2012, rate of interest is 8.8%. Enjoy every penny.
Already doing so dear
ReplyDeleteAs per revised rates of interest on sr. citizen saving scheme, rate of interest has been increased from 9% to 9.3% effective 1st April 2012. SBI has not given this increased rate of interest on such deposits made in August 2010. Why it is so. Pl clarify
ReplyDeleteIn senior citizen scheme Interest rate is fixed and interest rate applicable at the time of deposit remain applicable for whole period of investment ...so no change thereafter.
DeleteAs you have invested on August 2010 , so no change in interest rate for you.
can i increase the amount of my ppf contribution even after i hv limited it to rs.20000 per year?
ReplyDeleteThe limit is not fixed , you can change any time with in lower limit of 500 and higher limit of 1 lakh . No restriction on deposit what so ever .
DeleteSuppose this year you have deposited 20 and next year you can deposit any amount 500-100000 that is also in one go or in installments with in a year
can i increase the ppf contribution even after opening it for rs.20000 yearly?
ReplyDeleteThe limit is not fixed , you can change any time with in lower limit of 500 and higher limit of 1 lakh . No restriction on deposit what so ever .
DeleteSuppose this year you have deposited 20 and next year you can deposit any amount 500-100000 that is also in one go or in installments with in a year
MATURITY VALUE OF NSC 5YEAR WEF 01.04.2012 IS NOT CORRECT PL CHECK UP
ReplyDeleteIf invest in NSC 1,00,000 maturity will 1,52,350.00 for five years what will be the tax amount which i have to pay for interest.
ReplyDeleteyou can show interest income year wise as per table shown above and it will be added in you income and tax will be applicable according to your income slab income will be 52350
Delete