The rates of interest on various small savings schemes for the third quarter of financial year 2018-19, starting October 1 and ending on December 31, 2018, has been revised, the finance ministry said while notifying the rates.
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Now, the commission will be between zero per cent to 0.5 per cent.
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Use forms 15G and 15H to avoid tax at source.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
'Decide on an asset allocation you are comfortable with and stick to it for the long term.'
If you are wondering where to invest, here are some excellent investment options for you.
The government on Friday announced a 5 per cent bonus on new monthly post office deposits. The bonus will be applicable for Post Office Monthly Income Accounts opened on or after December 8, the finance ministry said in a statement.
Finance Minister Nirmala Sitharaman on Thursday said the government will roll back a steep interest rate cut on small saving schemes such as PPF and NSC -- saying it was an oversight, a move being seen as an attempt by the ruling Bharatiya Janata Party to contain the fallout of a decision hitting the common man in the ongoing elections in West Bengal, Assam and three other states.
Post office savings deposit, recurring deposit accounts and the senior citizen savings scheme account have shown the highest growth in the current financial year.
The government has increased the tax exemption limit under the Senior Citizen Savings Scheme, 2004, to Rs 10,000 from Rs 5,000
The rate of interest will be effective from April 1, 2015.
The bank has received authorisation to collect funds for PPF at branches mandated by the ministry of finance, ICICI Bank said in a release in Mumbai on Friday.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
Getting locked into instruments before the new regime kicks in would be a good strategy.
In a move that will hit the common man, the government on Friday slashed interest rates payable on small savings including PPF and Kisan Vikas Patra (KVP) in a bid to align them closer to market rates.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
Since April 2016, interest rates of all small saving schemes have been recalibrated on a quarterly basis.
Banks have been reluctant to transmit the entire policy rate cut by RBI to borrowers.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Interest rate on Public Provident Fund scheme was cut to 8.1%.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
Investments in Sukanya Samriddhi Account will earn higher interest rate of 9.2%.
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