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1-year post office time deposits interest hiked to 7 per cent

According to a circular issued by the Finance Ministry, interest rates on 1-year post office time deposits (POTD)[1] have been increased by 10 basis points (bps) to 7 per cent for the January-March, 2019 quarter. The interest rate on three-year POTD has been reduced by 20 bps to 7 per cent. Interest rates of other small savings schemes like Public Provident Fund (8 per cent), Sukanya Samriddhi Yojana (8.5 per cent), Senior Citizen Savings Scheme (8.7 per cent) and Kisan Vikas Patra (7.7 per cent) have been kept unchanged.

Read More at The Economic Times News date : 4 Jan 2019, Friday

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