As financial planning takes centre stage in securing the future, investment preferences are shifting from traditional saving methods like Fixed Deposits (FDs) and savings accounts to more dynamic options such as Systematic Investment Plans (SIPs).
The Central government raised interest rates on select saving schemes for the July-September quarter.
A change is required in our mindsets about money, all of our finances shouldn’t be tied up in one savings scheme, economist Sanjay Jaswani said.
EPF Interest Rate: Contributions towards EPF accounts are done by the employee and the employer as well. The employer deposits the amount into the EPF account of employees directly on a monthly basis.
The government on Wednesday reduced interest rates on small savings including PPF, one-year time deposit, senior citizen savings schemes. The changes will be effective from April 1, 2021.
The concept of personal finance is something that every member of the Generation Y needs to understand.
While the government expects you to pay taxes honestly, make sure you make use of its exemption schemes to the fullest
The bonds have been popular on account of offering a higher rate of interest than small savings and fixed deposit rates.
A finance ministry notification said rates have been reduced across the board for schemes such as National Savings Certificate (NSC), Sukanya Samriddhi Account, Kisan Vikas Patra (KVP) and Public Provident Fund (PPF).
New Delhi, Nov 11: In a bonanza to millions of small savers, the government today increased interest rates on deposit schemes offered by post offices, like savings account, Monthly Income Scheme and Public Provident Fund.
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