Subscribers of employees’ provident fund(EPF) must be cursing the govt as their rate of interest has been slashed by 1.25 per cent for 2011-12 in current budget and it becomes 8.25% from an all time high of 9.5%. The rate of interest on small saving instruments like the Public Provident Fund (PPF) may be hiked wef 01 April 2012. The rates may be increased from 8.6% to 9%. Last hike was seen in Dec 2011 when Finance Ministry had raised rates from 8% to 8.6%.
The interest rate on other small saving instruments like the National Savings Certificate and postal deposits are also expected to be hiked wef 01 Apr 2012. This is likely to be implemented based on recommendations of Shyamala Gopinath committee on the National Small Savings Fund which has given an idea that interest rates of small savings should be aligned to interest rates on government securities. The finance ministry is expected to notify the new interest rates wef 01 Apr 2012.
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The interest rate on other small saving instruments like the National Savings Certificate and postal deposits are also expected to be hiked wef 01 Apr 2012. This is likely to be implemented based on recommendations of Shyamala Gopinath committee on the National Small Savings Fund which has given an idea that interest rates of small savings should be aligned to interest rates on government securities. The finance ministry is expected to notify the new interest rates wef 01 Apr 2012.
Check us out for latest stock tips and make money with our daily one sure tip of the day as they say trade less but trade accurately.
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