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Let Your Money Work For You
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Tuesday, March 27, 2012

Small Savings are not so small...

The Savings Bank Account Rates were freed by RBI some time back.

Alongside, the Small Savings Rates are also revised and benchmarked to G-Sec.
This has initiated volatility in the rates on an annual basis.


NEW RATES
Instrument
 Old Rates (%)
 New Rates (%)
Post Office Savings Deposit
4.00
4.00
1-year term deposit
7.70
8.20
2-year term deposit
7.80
8.30
3-year term deposit
8.00
8.40
5-year term deposit
8.30
8.50
5-year recurring deposit
8.00
8.40
5-year SCSS
9.00
9.30
5-year MIS
8.20
8.50
5-year NSC
8.40
8.60
10-year NSC
8.70
8.90
PPF
8.60
8.80
Rate change applicable from April 1, 2012


So gone are the days when you bought some certificate and kept it till the child reach school age/marriage age!! Financial Planning become centre-stage.


Are you reday?



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