Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2017 (Revised on 01-04-2017), Find nsc interest rate for 2017, Sukanya Samridhi Yojana Interest Rate, PPF Interest Rate, Kisan Vikas Patra Interest Rate, Senior Citizen Saving Scheme (SCSS) Interest Rate for 2017. Hi Friends here we are providing All Govt. Small Saving Scheme’s Interest Rates for 2017. Govt. of India Officially Announced Interest Rates for Various Small Savings Schemes effected from 01-04-2017 (1st April, 2017). 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 2017 to 30th June 2017. Now you can scroll down below and check Various “Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2017”
The Post Office small savings scheme provides a secure, risk free and attractive investment option for the small investors and offers the savings products across its 155000 Post offices.
The Post Office savings bank is the oldest and by far the largest banking system in the country, serving the investment need of both urban and rural clientele. These services are offered as an agency service for the Ministry of Finance, Government of India. Several products on offer serve various investment requirements of the customers.
Interest Rate of NSC, PPF, KYP, SSY, SCSS Revised on 01-04-2017
On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the Second quarter of financial year 2017-18 starting on 1st April 2017 and ending on 30th June, 2017, on the basis of the interest compounding/payment built-in the schemes, shall be as under:
Please Note – Govt change Interest Rates for Second Quarter of 2017. All Rates are Same, Please check more details about Latest and Revised interest rates for Small Savings Schemes 2017 from below….
|S. No||Name of Scheme||Existing From 01-01-2017||New From 01-04-2017|
|1||Sukanya Samriddhi Yojana||8.50%||8.40% (w.e.f 1-10-2017)|
|2||Kisan Vikas Patra (KVP)||7.70%||7.60%|
|3||Senior Citizen Savings Scheme (SCSS)||8.60%||8.40%|
|4||Public Provident Fund (PPF)||8.00%||7.90%|
|5||Post Office Saving Account||4%||4%|
|6||1 Year Term Deposit||7.00%||6.90%|
|7||2 Year Term Deposit||7.10%||7.00%|
|8||3 Year Term Deposit||7.30%||7.20%|
|9||5 Year Term Deposit||7.80%||7.70%|
|10||5 Year Recurring Deposit (RD)||7.30%||7.20%|
|11||5 Year NSC||8.00%||7.90%.|
|12||Post Office Monthly Income Scheme|
- All Above New Rates are affected from 01-01-2017
- These Interest Rates apply from 1st January 2017 to 31st March 2017
Post Office 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 1.04.2017, interest rates are as follows:-
|1 yr. A/c||6.9%|
|2 yr. A/c||7.0%|
|3 yr. A/c||7.2%|
|5 yr. A/c||7.7%|
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|
Post Office NSC VIII Issue
- Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.
- No maximum limit for investment.
- No Tax deduction at source.
- Certificates can be kept as collateral security to get loan from banks.
- Trust and HUF cannot invest.
Buy National Savings Certificates (NSCs) every month for Five years – Re-invest on maturity and relax – On retirement it will fetch you monthly pension as the NSC matures.
- A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
- Deposits qualify for tax rebate under Sec. 80C of IT Act.
- The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.
*In case of NSC VIII and IX issue, transfer of certificates from one person to another can be done only once from date of issue to date of maturity.
*At the time of transfer of Certificates from one person to another, old certificates will not be discharged. Name of old holder shall be rounded and name of new holder shall be written on the old certificate and on the purchase application(in case of non CBS Post offices) under dated signatures of the authorized Postmaster along with his designation stamp and date stamp of Post office.
- Rate of interest 7.9%.
- 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 1.04.2017, interest rates are as follows:-7.6% per annum payable monthly.
- In multiples of INR 1500/-Type of Account Minimum Deposit Maximum Deposit SingleINR. 1500/-INR 4.5 lakhs Joint INR. 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.
Senior Citizen Savings Scheme (SCSS) Account
- From 1.04.2017, interest rates are as follows:- 8.4% per annum, payable from the date of deposit of 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st December.
- There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 15 lakh.
- Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and above by cheque only.
- Premature closure is allowed after one year on deduction of an amount equal to1.5% of the deposit & after 2 years 1% of the deposit.
- TDS is deducted at source on interest if the interest amount is more than INR 10,000/- p.a.
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