Revision in interest rates on deposits offered by post office
By Neelima Shankar
Mar 5, 2014
Print    Email    RSS   

Yesterday on the eve of the announcement of general elections schedule by the Election Commission,the government announced a hike of 0.20% in the fixed deposit rates offered by post office. However the interest rates of provident fund remained unchanged at 8.7%.

The revised rates on the deposits will be applicable from next month. The amendment has been in the interest rates on the deposits offered by fixed deposits. The interest rate for the tenure of 1-2 year has been increased 0.2%. Further the rate for three to five years has been made to 8.5% from 8.4%. And the rates for recurring deposits have been increased by 0.1% from 8.3% to 8.4%.

The rates for the savings deposits schemes are same i.e. 4%. It has been reported that the rise in rates will make savings scheme more attractive and returns would be in sync with market rates.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Regular fixed deposits in India: Great way...
Carnival of Indian Personal Finance Blogs #3
Carnival of Indian Personal Finance Blogs #6
The recent interest rate hike
Recurring deposit facility by IDBI Bank

MEXING: CaℒL Giℛℒ In Hoshiarpur 09855660911...
Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive