Revised Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2016-17, Find nsc interest rate for 2016-17, Sukanya Samridhi Yojana Interest Rate, PPF Interest Rate, Kisan Vikas Patra Interest Rate, Senior Citizen Saving Scheme (SCSS) Interest Rate for 2016-17. Hi Friends here we are providing All Govt. Small Saving Scheme’s Interest Rates for 2016-17. Govt. of India Officially Announced Interest Rates for Various Small Savings Schemes effected from 01-10-2016 (1st Oct, 2016). Ministry of Finance announced the interest rates for Various Post Office Schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme (MIS) and for Sukanya Samriddhi scheme. These interest rates apply from 1st April 2016 to 31st March 2017. Now you can scroll down below and check Various “Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2016-17”
Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2016-17 (Revised)
|S. No||Name of Scheme||Existing Interest Rate||New From 1-10-2016|
|1||Sukanya Samriddhi Yojana||9.20%||8.50%|
|2||Kisan Vikas Patra (KVP)||8.70%||7.70%|
|3||Senior Citizen Savings Scheme (SCSS)||9.30%||8.60%|
|4||Public Provident Fund (PPF)||8.70%||8.00%|
|5||Post Office Saving Account||4%||4%|
|6||1 Year Term Deposit||8.40%||7.00%|
|7||2 Year Term Deposit||8.40%||7.10%|
|8||3 Year Term Deposit||8.40%||7.30%|
|9||5 Year Term Deposit||8.50%||7.80%|
|10||5 Year Recurring Deposit (RD)||8.40%||7.30%|
|11||5 Year NSC||8.50%||8.00%|
|12||Post Office Monthly Income Scheme||8.40%||Check Details Below|
- All Above New Rates are affected from 01-10-2016
- These Interest Rates apply from 1st April 2016 to 31st March 2017
Time Deposit Account
* In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened e.g 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied.
Interest payable annually but calculated quarterly.
From 1.10.2016, interest rates are as follows:-
|1 yr. A/c||7.0%|
|2 yr. A/c||7.1%|
|3 yr. A/c||7.3%|
|5 yr. A/c||7.8%|
Deposit Amounts are as follows:-
|Type of Account||Minimum Deposit||Maximum Deposit|
|1, 2, 3 & 5 Year TD||INR. 200/- and in multiples of INR. 200/- thereafter||No limit|
NSC VIII Issue
- Rate of interest 8.0%.
- Maturity value of a certificate of INR.100/- purchased on or after 1.10.2016 shall be INR. 146.93 after 5 years.
- Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 147.61 after 5 years.
- Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
Post Office Monthly Income Scheme
- Interest can be drawn through auto credit into savings account standing at same post office, through PDCs or ECS./In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices.
- Can be prematurely en-cashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.)
- A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011.
- No bonus is payable on the deposits made on or after 1.12.2011. From 1.10.2016, interest rates are as follows:-7.70% per annum payable monthly.
- In multiples of INR 1500/-Type of Account Minimum Deposit Maximum Deposit SingleINR. 1500/-INR 4.5 lakhsJointINR. 1500/-INR 9 lakhsAn individual can invest maximum INR 4.5 lakh in MIS (including his share in joint accounts)Above scheme operates automatically, if you open a saving bank account and give a request for automatic transfer of Monthly Income Scheme interest to Recurring Deposit through Saving Bank account.
Read Relevant Articles
- National Savings Certificate (NSC) – Complete Details
- Complete Details for Systematic Investment Plan (SIP)
- Complete Details for Sukanya Samridhi Yojana
- Complete Details for National Pension Scheme
- Public Provident Fund (PPF) – Complete Details
- India’s Top 10 Safe Investment Plans