Let's know the latest rates of interestAll of you now know that presently interest rates in fixed-income instruments are directly linked with prevailing market rate announced by RBI from time to time. So, it is necessary to check the interest rates at the beginning of each quarter. As this is January, the beginning of the last quarter of the Financial Year, when most of us invest in tax-saving instruments and other financial instruments, I am indicating the current rates of interest offered by different fixed instruments. Please check the rates in the next Para.
Post Office Recurring Deposit (PORD) for 5 years: 7.30% p.a.
Post Office Time Deposit (POTD): 7.0% p.a. for 1 year, 2 years, 3 years and 7.8% p.a for 5 years
Post Office Monthly Income Scheme (POMIS): 7.7% p.a.
Senior Citizen Savings Scheme (SCSS): 8.7% p.a.
Public Provident Fund (PPF): 8.0% p.a.
National Savings Certificate (NSC): 8.0% p.a.
Pradhan Mantri Vaya Vandana Yojana (PMVVY): 8.0% p.a.
Kisan Vikas Patra (KVP): 7.7% p.a.
Sukanya Samriddhi Yojana (SSY): 8.5% p.a.
It is clarified that if an investor invests in these schemes during the quarter of 1st January, 2019 to 31st March, 2019, he/she will get the above rates which is fixed for the entire tenure of the investment.
I hope this would be helpful for all.