SB Order No.11/2013 - Problems faced by Small Saving Agents

To view SB Order No.11/2013 please Click Here.

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POSB Interest Calculator Ver 2.0

Futures:    RD/All TD/MIS/SCSS/SB/PPF etc.

1. Calculate premature closer.

2. Calculate maturity closer with extended period.

3. PMI Calculation.

4. Loan Interest Calculation for RD/PPF accounts

5. with all relevant rules./ Comparison view

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Thanks to :

Rajeev Sharma
PA(SBCO) Chamba HPO
Chamba - 176310
Cell 09625259779

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Savings Interest Calculator Updated

 Savings Interest Calculator  : Download 

 

 

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MIS TO RD AUTOMATIC CREDIT INTEREST CALCULATOR IN EXCELL

MIS TO RD AUTOMATIC CREDIT INTEREST CALCULATOR IN EXCELL

To download the MIS to RD automatic credit interest 
calculator in excel format Click here

 

 

 

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Interest rates on small savings schemes may go up by 0.25%

Interest rates on small savings schemes may go up by 0.25%


The government is likely to hike the interest rates on deposit schemes offered by post offices, like savings account, Monthly Income Scheme (MIS), Public Provident Fund (PPF), etc by about 0.25 per cent from April 1.

A circular on revised interest rate on small savings scheme will be issued by March 28, official sources said, adding that there could be a 0.25 basis points hike in the rates.

"We are in the process of calculating the rates. The new rates will be applicable from April 1," they added.


The government had in December, 2011 hiked interest rates on post office savings accounts (POSA) to 4 per cent, from 3.5 per cent. Similarly, the interest rates on the MIS and PPF was fixed at 8.2 per cent and 8.6 per cent respectively.

The decision to hike interest rates in December was in line with the recommendations of the Shyamala Gopinath Committee which had suggested linking of interest rates on small savings with that of the market. The panel had also suggested that the interest rates on small savings schemes should be revised annually.

The revision in the interest rates is aimed at maintaining the attractiveness of the small savings schemes vis-a-vis fixed deposit schemes operated by banks.

The government, as part of economic liberalisation process, had freed the interest rates on banks deposits giving freedom to lenders to fix rates depending upon the asset-liability position, but continued to fix rates for small savings schemes.

Pursuant to the recommendations of the Gopinath Committee, the government had introduced the National Savings Scheme (NSC) with a 10-year maturity to attract long-term funds.

The annual investment ceiling in PPF savings was increased to Rs 1 lakh from Rs 70,000.

Source:- The Economic Times

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Small Savings set to fetch higher returns

There is finally some good news for individuals in a season of duty hikes and provident fund rate cut. The government is raising interest rate on small savings schemes such asNational Savings Certificate (NSC) and post office deposits by 20-50 basis points.

The new rates will, however, be applicable on investments that you make from April 1 and not on those that you park over the next 10 days to meet your tax saving requirements.

As a result, NSC and public provident fund (PPF), which is a voluntary deposit as opposed to employee provident fund, will earn you 8.8-8.9% instead of 8.6% a year. The shorter tenure deposits, such as term deposits in post offices, are expected to fetch you more than the longer tenure products such as PPF or the 10-year NSC. Savings bank accounts in post offices will, however, not see any change as the 4% return is in line with what most banks pay at present.

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