Latest savings schemes of the post office
National savings plans (NSS) is one of the most popular savings schemes in India. These are regulated by the Ministry of Finance. They offer the total security of the investment combined with attractive returns.
Some of the very popular schemes that fall under NSS are the following:
- PPF (Public Welfare Fund)
- Scheme of Sukanya Samriddhi
- Monthly Income Plan (Monthly Income Account)
- Savings scheme for senior citizens
- KVP (Kisan Vikas Patra)
- NSC (National Savings Certificate)
- Temporary deposits &
- Recurring deposits.
Small savings schemes Interest rates and new standards April 2016
Let’s look at what are the changes that have been implemented with respect to the interest rates of the small savings schemes:
- Under the current rules, the interest rates on these small savings plans are linked to the performance of government bonds of comparable maturity (with a small profit margin) and are reviewed once a year. The brand here refers to ‘Spread’.
- The government has decided to review the Interest Rates of the Small Savings Schemes quarterly Basis.
- Savings schemes such as Sukanya Samriddhi, Savings Plan for Senior Citizens and Monthly Income Plan enjoy ‘spreads’ on the comparable G-sec rate of maturity, namely 75 basis points (0.75%), 100 bps (1 %) and 25 bps respectively. These margins/margins have not been touched by the Government.
- Also, it includes 25 points for long-term facilities, such as the five-year deposit, the five-year National Certificate of Nuclear (NSC) and the Public Employment Fund (PPF).
Last savings plans of the post office Interest rates FY 2018-19 (July to September 2018)
Interest rates apply in several small portions of rubies for July to September 2018 as 1,07.2018 would be the following:
- The new interest rate in Sukanya Samriddhi Scheme (SSA) is 8.1%.
- The new interest rate in PPF (Public Pension Fund) would be 7.6%.
- The interest rate of the Saving Scheme for the Elderly (SCSS) has remained the same at 8.3%.
- The new interest rate on Kisan Vikas Patra (KVP) would be 7.3%.
- The interest rate of the National Certificate of Savings (NSC) to 5 years is 7.6%.
- The new interest rate in the MIS post office (Monthly Income Plan) is 7.3%.
- The interest rate in a postal office of 5 years RD (Recurring Deposit) would be 6.9%.