Friday, September 30, 2016

Changes from Oct'2016 in Small Savings Schemes like NSC,PPF,SHORT TERM DEPOSIT

As per govt new rules as we explain in our earlier post 

Changes from April'2016 in Small Savings Schemes like NSC,PPF,SHORT TERM DEPOSIT

Interest Rates Reduced Again* for the upcoming quater that is for Oct-Dec2016.

The Govt. has reduced the rates (w.e.f 1st Oct 2016)
*Saving A/c*: 4% p.a.
*Term deposits*:
1yr deposit: 7.0% p.a.
2yr deposit: 7.1% p.a.
3yr deposit: 7.3% p.a.
5yr deposit: 7.8% p.a.
*5Yr NSC*: 8% p.a.
*PPF (Public Provident Fund)*:
8.0% p.a.
*5yr Sr. Citizen Savings Scheme*:
8.5% p.a.
*Sukanya Samriddhi Yojna*:8.5% p.a.

This will signal banks to further reduce their FD rates and correspondingly Loan Interest Rates.
```This is Positive for Equity Investors```
*Invest in Mutual Fund via SIP or Lump sum & Get Higher Tax Free Returns*
* You can also invest in debt/liquid funds for getting fixed higher tax free returns.
For more details call your financial advisor or contact us
Mobile: 9333100221

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