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I am a Company Secretary hailing from Thrissur, Kerala. I am working as a Consultant with a reputed Law firm in Chennai. This blog is an attempt to interpret and express my views on Corporate laws and Finance related areas.

26.3.13

Revised Interest rates on PPF, NSC,MIS, PO and SCSS

The Government of India has revised the interest rates on PPF, NSC, MIS, PO and SCSS which would be effective from April 1, 2013.

The Revised rates are as follows-

Public Provident Fund (PPF)                     - 8.70 %
National Savings Certificate (NSC) 5yrs    - 8.50 %
''                  ''                           '' 10 yrs     - 8.80 %
Senior Citizens Savings Scheme (SCSS)    - 9.20 %
Monthly Income Scheme (MIS)                 -8.40 %
Post Office Savings Deposit Scheme          - 4 %
"              '' Fixed Deposit Scheme             - 8.20 --- 8.5 %


Govt revised  (cut) the rates based on the recommendations of Shyamala Gopinath Committee so that the returns would be similar to the return offered by other securitites.

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