NEWS & ADVICE : HOME LOANS
Max PPF amount raised to Rs 1 lakh per year
By Joseph Samson
Nov 14, 2011
Print    Email    RSS   

Conservative borrowers have a reason to rejoice now. The finance ministry has recently notified that the investment limit on the Public Provident Fund (PPF) has been raised to Rs 1 lakh annually from Rs 70,000 earlier.

The interest rate for PPF has also been given a boost up from 8% earlier to 8.6% now.

The dates from which the new rules and rates would get applicable is yet to be disclosed by the ministry.

Also, small savings schemes will see a pump up in interest rates thereby bringing in more smiles to the customer.

The interest rates on these schemes will correspond to the rates prevailing with government securities of similar tenor having a spread of 25 bps on both sides.

However, the 10-year National Savings Certificates will have a spread of 50 bps and the Senior Citizens Savings Scheme by 100 basis points.

The tenor of maturity of monthly income scheme (MIS) of post office and NSC will now be 5 years rather than 6 years earlier.


 


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
How to increase one’s Home Loan Eligibility
Carnival of Indian Personal Finance Blogs#10
Manage your loans, avoid recovery agents
Credit profile and its effect on loan...
Home Loan Agreement: An important aspect...


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive