Rate of interest on term deposit, RD, NSSC and PPF etc. increased

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

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