+91 9998272519 Jayesh@licadvisor.in

PPF rates reduced again!

IFINs Flash News: RBIs Monetary Policy: Repo Rate cuts by 25 bps (Repo Rate @ 6.25% Vs 6.50%), Reverse Repo Rate @ 6%, , CRR @ 4%.

  • The govt has reduced the rates on Public Provident Fund(PPF) from 8.1% to 8.0% w.e.f 1st Oct 2016.

  • Similarly, govt has revised the rates on

  • Sukanya Samriddhi Yojna 8.6% to 8.5%p.a.

  • KVP from 7.8% to 7.7% p.a.

  • 5Yr NSC from 8.1% to 8% p.a.

  • 1yr time deposit from 7.1% to 7.0%

    Term deposits of 2,3, 5yr time deposits have also been reduced by 10bps to 7.1%,7.3% and 7.8% respectively.

  • 5yr senior Citizen Savings scheme from 8.6% to 8.5%

  • The govt has again set the platform for the RBI to reduce rates when the Monetary policy committee will meet on 4th Oct 2016.

  • This will signal banks to further reduce their FD rates and correspondingly interest rates on loans shall reduce.