The government has finally cut the interest rates offered on small savings schemes like PPF, Senior Citizen Savings Scheme, Post Office Fixed and Recurring Deposits and Sukanya Samriddhi Account by 0.4% to 1.3%. The much publicized Sukanya Samriddhi Yojna would have 8.6% interest as compared to 9.2% earlier. Similarly for Senior Citizens Savings Scheme the […] Continue reading →
Ministry of Finance has come out with additional guidelines and new rules the way interest rates are determined for small saving schemes. These small saving schemes cover the following investments: PPF (Public Provident Fund) Sukanya Samriddhi Scheme Post office Monthly Income Scheme Senior Citizen Savings Scheme KVP (Kisan Vikas Patra) NSC (National Savings Certificate) Post […] Continue reading →
The banks have started lowering their interest rates on fixed deposits. This hurts people who invest in them. However you can look into fixed deposits offered by companies. Below are the details of 5 companies which have highest credit rating (AAA) and offering interest rate of more than 9% on their fixed deposit schemes. In comparison […] Continue reading →
Government has declared the interest rates to be paid on small saving schemes for FY 2015-16. These interest rates are revised at the start of every Financial Year. The interest paid on Sukanya Samriddhi Account has been raised to 9.2% from existing 9.1%. The investors of Senior Citizens Savings Scheme (SCSS) would also get increased […] Continue reading →
Along with changes in income tax, budget 2015 has also made some changes in TDS (Tax Deduction at source) for Fixed Deposit, Recurring Deposit and EPF (Employee Provident Fund). The post discusses these changes: TDS on Recurring Deposit (RD) Until now recurring deposit was not subjected to TDS. Budget 2015 has amended this and now […] Continue reading →
Last month RBI had cut its Repo rates which lead most banks to reduce their interest rates on fixed deposits. An alternative to lock in higher interest rate is to invest in fixed deposits offered by companies. But before you get excited at getting higher interest rates here are some points to keep in mind: Evaluating […] Continue reading →
Keeping in the theme of “Beti Bachao Beti Padhao” i.e. all round development of Girl child, the Government of India has launched Sukanya Samriddhi Account – a long term deposit scheme for girl child. The post covers everything you wanted to know about the new investment avenue. 1. Who can open the account? This account can […] Continue reading →
SRS Limited, the NCR based company is offering Fixed Deposit Scheme for 1 to 3 years tenure offering 12% – 12.5% Annual Interest. Scheme Highlights: Minimum Amount of deposit to be accepted is Rs.20,000/- and in multiple of Rs. 1,000/- thereafter. For Scheme A (Non Cumulative), interest will be compounded monthly and payable quarterly. For […] Continue reading →
Most people consider their bank fixed deposits extremely safe but some recent events in Cyprus (an euro zone country) bust this myth of safety of bank deposits. The Cyprus government has decided to use the depositors’ money in bank account to pay off its debts. Deposits greater than €100,000 were frozen by the government but […] Continue reading →