Required fields are marked *, Copyright © 2020 - Central Government Employees News - 7th Pay Commission News - Site maintained by TEUT Digital Concepts. 284(E) N.S.C. 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Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. Small savings rates hiked: PPF and NSC … Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account. 285(E) N.S.R.D. Department of Posts Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2020 (Revised on 01-04-2020), Interest rates on Government Savings Scheme from 1st April 2020 to 30th September 2020. According to the notification, the reduction in interest rates on National Savings Scheme, Kisan Vikas Patra and PPF has been reduced by 10 basis points. 80C of IT Act. (ii) G.S.R. Copies of following notifications are enclosed: This issues with approval of the competent authority, sd/- Revision of Interest Rates and Interest Tables of National Savings Schemes with effect from 01.04.2020 to 30.06.2020. 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.

In the first quarter of the current financial year, i.e., April-June 2020, the government had slashed rates of post office deposit schemes by 70-140 bps. Assistant Director (SB), Interest Rates of National Savings Schemes PDF, E-Mail Subscription: Get Our Updates through EMail: Don't Forget to Activate Link Send to Your Mail, Filed Under: National Savings Scheme, Post Offices, [Don’t forget to activate subscription through the activation link send to your e-mail], Your email address will not be published. – Know Various Factors, Books To Be Maintained By Banking Companies: Detailed Discussion, Link Aadhaar Card to ICICI Bank, ICICI Bank Aadhaar Card Link, INR. Minor after attaining majority has to apply for conversion of the account in his name.

Ministry of Finance announced the interest rates for Various Post Office Schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Interest Rate of NSC, PPF, KYP, SSY, SCSS Revised on 01-04-2020, Senior Citizen Savings Scheme (SCSS) Account, Link Aadhaar Card to Axis Bank, Axis Bank Aadhaar Card Link Process, Vijaya Bank Balance Enquiry Number 2020 by Missed Call, SMS, Kotak Bank Balance Enquiry Number 2020 by Missed Call, SMS, How to Link Pan Card With SBI Account – Update PAN at SBI Bank, SBI Elite Credit Card – Gift Voucher worth Rs.5,000, Free Movie, Canara Bank UPI App, Download Canara UPI Android App eMpower, FASTag Recharge By BHIM App, By Any UPI App – Here is Process, How the value of rupee is determined? 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. 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. Small Saving Scheme’s Interest Rates for 2020.

In continuation of this office letter of even number dated 31.03.2020 on the aforesaid subject, the undersigned is directed to forward copies of gazette notification received from Ministry of Finance for further circulation. 287(E) Sr. Citizen Savings (Amendment) Scheme, 2020. Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act. Match moratorium interest rate with deposit’s for the period of freeze: Industry. Account can be transferred from one post office to another. (Discount means deduction from the deposit.). …

must study the matters properly to protect the interest of large small savings holders, they mainly saves money for as a old age provision, Children's Education etc. Dak Bhawan, New Delhi-110001 (Financial Services Division). Interest Rate of NSC, PPF, KYP, SSY, SCSS For 2020 (Revised on 01-04-2020), Interest rates on Government Savings Scheme from 1st April 2020 to 30th September 2020. 01.04.2020 to 30.06.2020 regarding. As per the circular, the interest rate on small savings schemes for the third quarter of FY 2020-21 shall …

(Amendment) Scheme, 2020. These services are offered as an agency service for the Ministry of Finance, Government of India. Maximum investment limit is INR 4.5 lakh in single account and INR 9 lakh in joint account, An individual can invest maximum INR 4.5 lakh in MIS (including his share in joint accounts). Govt. 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/Cheque and in case of Cheque the date of realization of Cheque in Govt. In the second year, the interest is compounded, thereby making the investment sum for the second … Single account can be converted into Joint and Vice Versa. 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. These interest rates apply from 1st April 2020 to 30th September 2020. 290(E) P.P.F.

(Devendra Sharma) For reprint rights: When interest rates are low, how to make money in the fixed income space? Find out updated nsc interest rate for 2020, Sukanya Samridhi Yojana Interest Rate 2020, PPF Interest Rate, Kisan Vikas Patra Interest Rate, Senior Citizen Saving Scheme (SCSS) Interest Rate for 2020. (iii) G.S.R.

AICPIN August 2020 - Expected DA Jan 2021 - 2nd Stage Completed! Dated: 13.05.2020.

(viii) G.S.R. A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.

Also check: PPF Interest Rate 7.1% – KVP Interest Rate 6.9% – NSC Interest Rate 6.8% – April to June 2020 Interest Rate for KVP, NSC… Deposits qualify for tax rebate under Sec. Small Saving Scheme’s Interest Rates for 2020. Your Reason has been Reported to the admin. Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts. (Amendment) Scheme, 2020.

Amid all the gloom and doom, here is some good news for fixed income investors: For yet another quarter the government has kept the interest rates of various small savings schemes unchanged.