The rate of interest on small
saving scheme like term deposit, recurring deposit, national small saving
scheme and public provident fund has been increased. The new rates are for
financial year 2012-13 and will effect from 01-04-2012. This is the second time
in a year when the rates are increased as the saving rate was also increased on
01-11-2011. The ministry of finance released office memorandum dated 26-03-2012
about the rate of interest increased. The new rates as well as old rate of
interest on ppf, nssc, term deposit, rd etc. are as follows.
Scheme
|
Rate of interest w.e.f. 1-12-2011
|
Rate of
interest
w.e.f
1-4-2012
|
Savings
Deposit
|
4.0
|
4.0
|
1
year Time Deposit
|
7.7
|
8.2
|
2
year Time Deposit
|
7.8
|
8.3
|
3
year Time Deposit
|
8.0
|
8.4
|
5
year Time Deposit
|
8.3
|
8.5
|
5
year Recurring Deposit
|
8.0
|
8.4
|
5
year SCSS
|
9.0
|
9.3
|
5
year MIS
|
8.2
|
8.5
|
5
year NSC
|
8.4
|
8.6
|
10
year NISC
|
8.7
|
8.9
|
PPF
|
8.6
|
8.8
|
