Interest rates of PPF, Kisan Vikas Patra and other small savings schemes slashed; new rates will be applicable from today (1 April)
People with accounts in Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and National Savings Certificate (NSC) will earn less after the rates were cut by 70-140 basis points (bps).
The government is considering rate moderation for small savings schemes in the upcoming quarter, a development that could lead to speedier transmission of monetary policy rate cuts, sources said
The government on Tuesday kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the fourth quarter of 2019-20 despite moderating bank deposit rates
Schemes that will fetch lower interest are Kisan Vikas Patra (KVP), Public Providend Fund (PPF), among others
Govt cuts interest rate on NSC, PPF and other small savings schemes by 0.1% for July-September quarter
The government on Friday reduced the interest rate on small savings schemes, including NSC and PPF, by 0.1 percent for the July-September quarter
Fixed deposits and tax-free bonds seem to be among the most favoured financial investments for the political leaders fighting the 2019 Lok Sabha polls
The government has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the April-June quarter
Govt hikes interest rate on NSC, PPF, other small savings schemes by up to 0.4% for October-December quarter
Public Provident Fund (PPF) and National Savings Certificate (NSC) will fetch an annual interest rate of 8 percent as compared to existing 7.6 percent, while Kisan Vikas Patra (KVP) will yield 7.7 percent and mature in 112 months as against 118 months in the previous quarter.
Interest rates for small savings schemes are notified on a quarterly basis
The government slashed interest rates on small savings schemes, including NSC and PPF, by 0.2 percentage point for the January-March period
Following the latest rate cut from the RBI by a higher-than-expected 50 bps, banks have begun cutting their base rates in the last two days.
Simply put, these tax regimes show how your financial instrument is taxed at different stages. The letter 'E' denotes exempt and the letter 'T' for tax. The three letters simply show the three different stages of investments.