Government of India, Ministry of Communication, Department of Post has issued a order on 19.09.2018 having SB Order No. 01/04/2016-NS about Revision of Interest Rates of various small savings schemes. Postal Department has been revised their POSB interest rate Quarterly i.e January to March, April to June, July to September and October to December. This is the 4th quarter of the year 2018.
The last quarter, January 2018 to march 2018 department had reduce 0.1% of their Interest but the previous quarter, April 2018 to June 2018 and present quarter this was unchanged and same interest rate will be effect from July 2018 to September 2018.
In this order Ministry of Finance Increase interest rate of Post Office Small Savings Scheme (POSB) more than 0.3%. which is a great news for all the small investor.
The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:
|Instrument||Rate of interest w.e.f. 01.07.2018 to 30.09.2018|
|1 Year Time Deposit||6.9|
|2 Year Time Deposit||7.0|
|3 Year Time Deposit||7.2|
|5 Year Time Deposit||7.8|
|5 Year Recurring Deposit||7.3|
|5 Year Senior Citizen Savings Scheme||8.7|
|5 Year Monthly Income Account||7.7|
|5 Year National Savings Certificate||8.0|
|Public Provident Fund Scheme||8.0|
|Kisan Vikas Patra||7.7 (will mature in 112 months)|
|Sukanya Samriddhi Account Scheme||8.5|
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