INSUBCONTINENT EXCLUSIVE:
Post office savings account interest rate is 4 per cent per annum.Diwali, the festival of lights, is considered an auspicious occasion to
For people looking to invest, there are multiple investment avenues like Post office fixed deposit (FD), Post office Public Provident Fund
(PPF), Post office recurring deposit (RD), among others, that can help them generate wealth
Interest rates on post office saving schemes move in line with the government's interest rates on small savings schemes
The government in September revised interest rates on small savings schemes for the quarter between October 1, 2018-December 31, 2018.Post
office recurring deposit (RD) accountPost office Recurring Deposit (RD) account offers an interest rate of 7.3 per cent per annum
The interest rate on post office RD account is compounded annually
On maturity, a recurring deposit of Rs
10 per month fetches a return of Rs
725.05 on maturity, as mentioned on India Post's official website- indiapost.gov.in
The post office RD account can be continued for another five years on a year-to-year basis
Post Office RD account can be opened by cash as well as cheque
Minimum amount for opening of post office recurring deposit account (RD) is Rs
10 per month or any amount in multiples of Rs
5, mentioned India Post.Post Office Time Deposit (TD) or Fixed Deposit (FD) accountPost office time deposit (TD) or Fixed Deposit (FD)
account offers interest rates across four maturities: one year, two years, three years, and five years
Post office fixed deposit for one year, two years, three years, and five years offer 6.9 per cent, 7 per cent, 7.2 per cent, and 7.8 per
Interest is payable annually but is calculated quarterly
monthly income scheme or MIS accountThe post office MIS account offers an annual return of 7.3 per cent
The interest on post office MIS account is payable monthly.Senior citizen savings scheme (SCSS)The senior citizen savings scheme offers an
interest rate of 8.7 per cent per annum, which is payable from the date of deposit on March 31/ September 30/December 31 in the first
instance and thereafter, interest shall be payable on March 31, June 30, September 30 and December 31, noted India Post.15-year public
provident fund or PPF accountPPF accounts, which are also offered by banks, offer an interest rate of 8 per cent per annum
The interest on PPF accounts is compounded annually
A minimum of Rs 500 and a maximum of Rs 1,50,000 can be deposited in a financial year in a PPF account.National savings certificates
(NSCs)National savings certificates (NSCs) offer an interest rate of 8 per cent per annum
This interest is payable annually but compounded quarterly
146.93 on maturity after five years, said India Post
NSCs have a lock-in period of five years.Kisan Vikas Patra (KVP)Kisan Vikas Patra certificates offer an interest rate of 7.7 per cent per
The interest is compounded annually
The amount invested in a KVP doubles in 112 months (9 years and 4 months).Sukanya Samriddhi AccountThe current interest rate on sukanya
samriddhi accounts is fixed at 8.5 per cent per annum
It is calculated and compounded on a yearly basis
A legal guardian/natural Guardian can open this account in the name of girl child
A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different girl children,
