From To Interest Rate… A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children. Post office fixed deposit interest rates for 1 year, 2 years and 3 years is 5.5%. I want to invest in PPF per month 3000 rs. FD Interest Rates: For the quarter ending September 30, India Post provides a 5.5-6.7% return on FDs. You can invest a minimum of Rs 1,000 and in multiples of Rs 100 thereof. 2) Post Office FD interest rates – 5.5% to 6.7%. Please let me know is it wise decision? Owing to the widespread availability of these schemes, they’re suitable for people living in both rural and urban areas. Room Rent Sub-Limits/ Capping/ Proportionate Charges in Health Insurance Policy, Rebalancing Of Portfolio – Shifting From Equity To Debt, Download Sample Financial Plan – Consolidation Of Investments. It must be noted that NRIs are not allowed to invest in these Schemes. Such amount would qualify for IT deduction u/s 80c. Moreover, the rate of interest of FD in Post Office differs with each tenure. Also, you can calculate the amount at maturity. Investment is eligible for tax benefit under Section 80C. You notice that there is a huge fall in the interest rates of all Post Office Saving Schemes. However, for SBI, the interest rates vary from tenure to tenure. If you liked my blog and want to discuss further on comprehensive fee only financial planning, feel free to get in touch by visiting Finvin Financial Planners. Divide 72 by the prevailing interest rates. What are the changes in Post office interest rates for July to Sep 2020? Just to recap quickly, in the first quarter of FY 2020-21, there was a huge reduction in interest rates of all saving schemes of Post Office. Since PPF is safe and tax free returns compare to debt funds and FD/RD. PPT is low risk option. If you want to go for a normal savings account, then the post office savings account is the best option for you. You can invest in the post office monthly income scheme for an assured regular income. By:MoneyChai Investment Last Updated: 7 Apr, 2020. 7) Latest Sukanya Samriddhi Account interest rate is 7.6%. Some schemes offer tax benefits at the time of investment whereas some on interest rates. One can easily enroll in a scheme at authorised post office branches and banks situated across India. There is a rebate on advance deposit of at least 6 installments. Any individual of the age of 60 years and above can open SCSS. There’s a very simple method for calculating the total amount of time after which your money will double. 10 Mutual Fund Investment Plans for Steady Income, 40+ Profitable Agriculture Business Ideas in India, 200 Good Small Scale Business Ideas with Low Investment, 20+ Future Business in India for 2025 | Future Business Ideas for 2030 and beyond, Top 10 Most Profitable Business in India with Low Investment. It’s very simple to opt for these schemes. Most of the post office schemes offer tax benefits under Section 80C. You can invest a minimum of Rs 250 and maximum of Rs 1.5 Lakhs in a financial year. In this Post Office Interest Rates Table January 2021 to March 2021, it is quite clear that the rate of interest for all post office saving schemes have been kept unchanged. https://www.bankbazaar.com/fixed-deposit/post-office-fixed-deposit-rate.html Your email address will not be published. Post Office MIS interest rate is 6.6%. Post Office Fixed Deposit interest rates are decided by the Government of India (every quarter) under Small Saving Schemes. The rate of interest offered on the RD scheme in post office in 2019 is 7.2% p.a. I am a Certified Financial Planner and currently working as a Paraplanner with Mr. Melvin Joseph, founder of Finvin Financial Planners. In this post office scheme, the individual applicant should be a girl child aged between 1-10 years. This will benefit many people, Sure Nanmith, can you pls post on suggest a topic so that it would be on my radar to post next week. Here are the features of the Post office savings account. You can open Post office savings account with Rs 500. There is no tax on maturity but the interest earned is taxable. The interest paid on a fixed deposit by the post office … The Post Office offers a number of different savings schemes to investors. Trend of Post Office Small Saving Scheme Interest Rates in the last few quarters. Below is the interest rate … Section 194DA -TDS on Maturity of Life Insurance Policy, National Savings Time Deposit Account (TD). Here is the latest post office interest rate table applicable in July to Sep 2020 period. The interest is compounded annually and payable on maturity. Additionally, there’re a couple of schemes like the PPF, and Sukanya Samriddhi that are free from tax even at the time of maturity. Besides, the tenure for term deposits ranges from 1 to 5 years. This is really a shocking to all those who are completely relying on Post Office Saving Schemes. Here are the Sukanya Samriddhi Yojana details. If you have a lump-sum amount for investment, you can invest in the time deposit scheme of the post office. An individual of the age of 55 years or more but less than 60 years who have retired on the superannuation or under VRS can also open account subject to the condition that the account is opened within one month of receipt of retirement benefits and amount should not exceed the amount of retirement benefits. National Savings Certificates (VIII Issue) ​Account​ (NSCs). Check POST OFFICE RD rate of interest and calculate RD final amount via POST OFFICE RD Calculator on The Economic Times. resident Indians. This interest would be compounded every quarter. They have retained existing interest rates of the small saving schemes and not made any changes in Quarter 2 of FY2020-21 compared to Quarter-1. He has been analyzing financial markets in the last 20 years.He can be reached at suresh@myinvestmentideas.com. 7.15% Power Finance Corporation NCD Bonds Jan-2021 issue - Review, These 5 Tax Saving Fixed Deposits Offer interest rates up to 6.75%, Suresh KP is the Founder of Myinvestmentideas. On the other hand, if the prevailing rate of interest is 7.7%, as in Kisan Vikas Patra, your money will double in 9 years and 4 months. Also read: RBI Floating rate saving bonds 2020 – Should you invest? Post office recurring deposit also called as National Savings Recurring Deposit is offered for 5 years tenure. Simple Example of Power of Compounding For Youngsters, Creating Equity Portfolio for Your Investments, Creating Debt Portfolio For Your Investments, Those 1%-2% Extra Returns In NCD (Non-Convertible Debentures). 1 year to less than 2 … Also, Interest and maturity is tax free. There is no maximum limit on Post Office RD. Post office NSC interest rate is 6.8% NSC is offered for 5 years tenure. You can invest a minimum of Rs 1,000 and in multiples of Rs 100 thereof. You can open Post office FD with a minimum of Rs 1,000 and in multiples of Rs 100. Earlier the interest rates used to be announced yearly once. Should I Surrender My Jeevan Anand Policy from LIC? Stove Kraft IPO Review – Should you Apply or Avoid? It’s so because these Schemes are only available for individuals residing in India, e.g. Can you post an article ranking the best health insurance plans for family covering all along with cover amounts and their premiums ? Customers can choose to deposit a fixed sum of money for … Since all post office deposits are government-backed, they’re completely safe and come with security assurance. Latest Post Office Interest Rates Oct – Dec 2020. TDS is applicable for interest more that 50,000. Post Office RD Plan 2020 and Post Office Recurring Deposit scheme explained in Hindi. However, in the last quarter, the Government reduced the interest rates … Many get doubt whether SCSS interest rate is fixed or variable. … In such cases, the account can be closed at any time after expiry of one year of extension without any deduction. When it comes to selecting the best post office scheme, it all depends on your requirements and ultimate goal. He is NISM Certified - Investment Adviser. Tax on Recurring Deposit Interest Rates. Required fields are marked *. They have indicated no changes in small saving scheme interest rates in July, August and September, 2020 compared to earlier rates announced for Apr-Jun period. If you’re planning to go for long term debt investment, PPF is undoubtedly the best option. Interests are paid monthly under this scheme. The interest rate is compounded annually and payable on maturity. Your email address will not be published. Hi, Such amount would quality for income tax deduction u/s 80c up to Rs 1.5 Lakhs during the financial year. Post Office Recurring Deposit Scheme (RD): Interest Rates 2021, Maturity Calculator, Premature Withdrawal Rules December 24, 2020 January 4, 2021 Post Office Recurring Deposit (PORD) Scheme is a systematic savings plan, where you can deposit your money for a definite time period and earn interest … As with all other Small Saving Schemes like PPF, SCSS, Post Office RD, POMIS rates are also declared every quarter. Ministry of Finance notified the applicable latest Post Office Interest Rates Oct – Dec 2020. KVP certificate can be en-cashed after 2 & 1/2 years from the date of issue. A lot of information is filled in this blog.Thank you for sharing. If you are investing for fulfilling your long term financial plan, KVP is the best low-risk savings option. The PPF interest rate for 2020 is 7.1%. In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices. RBI Floating rate saving bonds 2020 – Should you invest? What are the latest Post Office interest rates on FDs, MIS, SCSS, NSC, KVP, PPF and SSY Schemes? Senior Citizens Saving Scheme (SCSS) interest rate is 7.4% per annum for July to Sep 2020. Also Read: How to open TNPFC FD Scheme online? Updated: August 10, 2020 6:05 pm IST. Great work and keep it up. Additionally, the compound interest … 5 Year account will fetch you up to 7.8% returns. I am Ajay Pruthi, an alumnus of NIT Jalandhar and K.J. However, the only apparent exception is the Sukanya Samriddhi Scheme (SSA). Types of Recurring Deposit Interest Rates. Post office offers regular monthly income through this Post Office MIS scheme. Here are the details of the Post Office Fixed deposit schemes. Post office RD can be opened as low as Rs 100 per month and in multiples of Rs 10 per month there on. Post Office Schemes have become increasingly popular among investors nowadays because they are government-backed and promise risk-free returns simultaneously. Post office FDs are for 1 year, 2 years, 3 years and 5 year tenure. This is variable, i.e. In the last quarter (July-Sept 2020), Government not changed the interest rates … The interest is compounded annually and payable on maturity. I have over 10 years of experience in the field of insurance and have worked with top two private insurance players in the country. How to download Home Loan Interest Certificate for Tax Proofs submission? NSC … GST Rate on Real Estate – Under Construction & Completed Property, Cost Inflation Index Calculation for FY 2019-20 & AY 2020-21, Financial Advisor Fees Structure, Cost & Charges in India. This article covers the various options available under post office schemes along with their interest rates table, calculators related to FD, RD, and monthly income schemes. National Savings Recurring Deposit Account (5 Years RD). Enter your email address to subscribe to this blog and receive notifications of new posts by email. Also Read : Senior Citizen Savings Scheme 2020. You can download the Post Office FD & RD Calculator for calculating the total returns. Subscribe to our newsletter to get the latest scoop right to your inbox. Investment, interest and maturity is tax free. LIC Jeevan Labh Review – Why Every Blogger Ended Up Calculating Wrong Returns? 1) Post Office Savings Account Interest Rate is 4%, Many of us not even aware that the post office offers a savings account like any other bank account. Interest earned is taxable too. The Post Office MIS Interest Rate for 2020 (Jan to Mar) are 7.6%. If you want to make an investment for your daughter’s education and marriage, Sukanya Samriddhi Account (SSA) is the best option. Discount means deduction from the deposit. Now let review the new interest rates on post office schemes in detail. Post office schemes are considered as one of the safest investments as these are governed and guaranteed by Govt of India. Your money will double in 9 years. Here is the revised and latest interest rates on small saving schemes that are applicable for the period January, February and … Ministry of Finance notified the applicable latest Post Office Interest Rates July-Sept 2020. Such interest rate makes it one of the most preferred investment options available. Post Office Fixed Deposit with a tenure of 5 years has an interest rate … Post Office RD Interests Rates The rate of interest on a National Savings Recurring Deposit Account is 5.8% with effect from 1st April 2020. The interest is compounded annually and payable on maturity. The KVP interest rate now in 2020 is 6.9%. SBI RD rates effective 8 January 2021. Again, you can invest in the senior citizen savings scheme for an assured regular income to fulfill your retirement needs. Besides, KVPs can be encashed only after a period 2 and ½ years from the date of issue. You can open Post office FD online by logging into internet banking of the post office portal. Post office NSC Interest Rate in 2020 now – 6.8% (VIII issue) NSC is available for 5 years tenure. The PPF maturity period is 15 years, but can be extended within one year of maturity for the further 5 years and so on. This article covers the various options available under post office schemes along with their interest rates table, calculators related to FD, RD, and monthly income schemes. Sukanya Samriddhi Yojana interest rate is 7.6%. You can invest a minimum of Rs 1,000 and in multiples of Rs 100 thereof. Post office Small Saving Schemes and their features. In this article we would provide the latest and revised post office interest rates that are applicable for July to September, 2020. The best thing about the post office schemes is that it has different schemes with different tenures. Post office Fixed deposits are available in four tenures, viz. Best Investment Plans in India and Money Saving Ideas, Latest Post Office interest Rates – Jul, Aug and Sep 2020. Required fields are marked *. Post office RD is basically a monthly investment for a fixed period of … There are no tax benefits under this scheme. A legal of natural Guardian can open the account in the name of the Girl Child. Investment is eligible for tax benefits under Section 80C for 5 years. Child`s education and Marriage Planning with Asset Allocation, How To Choose The Best Personal Accident Insurance Policy – Comparison, House Rent Allowance Rules and Regulations – HRA 2019-20, Gratuity Formula – Rules, Limit, Eligibility & Calculation 2020, Gift Tax Rate in India – Limits, Exemptions and Rules 2019-20, NRI PPF Rules – Account and Notification 2019. Enter your email address to subscribe to Moneychai and receive News Letter. would get updated based on announcements from GOI / MoF every quarter and not fixed. Post office RD interest rate is 5.8% per annum. Online Deposit facility is available through Intra Operable Netbanking and IPPB Saving Account. Let’s take a look at the various schemes available under the post office in 2020. Just to quickly recap, 3rd and 4th quarters of FY 2019-20, there was no change. This is an interesting blog . However interest rate can fluctuate. If you are looking for the post office scheme to double the money, you can invest in KVP. Also Read: Shriram Transport Finance FD Scheme offers up to 10% yield. Read about: Post Office Recurring Deposit Rates How to Calculate Compound Interest on Post Office Recurring … The trend of Post Office Interest Rates from April 2019 to April 2020. NSC is available for 5 years tenure. Post office FD rate for 5 years tenure is 6.7%. POST OFFICE RD calculator online - Calculate POST OFFICE RD Interest rate using POST OFFICE Recurring Deposit calculator 2021. One can deposit a minimum of Rs 1,000 and maximum of Rs 15 Lakhs. For KVPs, the money will double in 9 years and 4 months, i.e. However, from 2016-17, the rate of interest will be fixed on a quarterly basis. If you observe NSC interest rate chart, it shows in declining mode in the last few quarters. Latest NSC interest rate in … PPF, Sukanya Samriddhi Scheme, NSC, MIS, SCSS, RD,FD If you want to go for long term investments, NSC is a relatively better option. Investment is eligible for tax rebate under Section 80C. Post Office Recurring Deposit. At the same time, you can purchase Kisan Vikas Patra for a time period of 9 years and 4 months. If you are willing to make regular investments for a higher interest rate, you can invest in 5 years RD for generating the desired returns. First of all, it must be noted that there’s no fixed rate of interest of FD in the post office. The Post Office RD Interest Rate for FY 2020-21 (July to September) is 5.8% (Check latest Post Office RD Interest Rate) The minimum investment amount is Rs 100/month and there is no … There are multiple factors for this change and thus it is very important for potential-investors to have a good understanding of RD interest rates … 1, 2, 3, and 5 years; each has its own preset interest rate. 2 Years and 3 Years deposit account will also fetch you up to 7% returns. Latest NSC interest rate in 2020 is 6.8%. Senior Citizens Savings Scheme Account​ (SCSS). SIP mutual funds on other hand are high risk, but can give high returns. Such amount would quality for income tax deduction u/s 80c. I love doing analysis on various Best Investment Plans like mutual funds, Stocks, IPO’s, NCD Bonds, Insurance products. The amount at maturity ) is one of the safest investments as these are and... 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