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Saturday, November 19, 2011

PPF interest rate hiked to 8.6% , investment limit to 1 lac

Govt on Friday increased the PPF interest rates to 8.6% , which was 8% from very long time. Also the investments limit has been raised to 1 lac from the old 70,000 . This will be effective from Dec 1 , 2011 . Apart from this Post office saving rates are increase from 3.5% to 4% , KVP (Kisan Vikas Patra) has been discontinued from now.

Also, The maturity period for monthly income scheme and NSC has been cut to 5 years and interest rates hiked to 8.2 per cent and 8.4 per cent, respectively.

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