POST OFFICE SCHEMES
Six new rules for PPF, Sukanya Samriddhi Yojana, other small savings schemes with effect from October 1, 2024
Small savings rules: The Ministry of Finance is responsible for overseeing small savings accounts. Any unusual accounts must be sent to this department to be brought into compliance by the Ministry of Finance, as per the regulation. Six specific categories have been defined, and appropriate instructions have been provided.
TV Somanathan is appointed Cabinet secretary
The Cabinet Appointments Committee has named TV Somanathan, the current finance secretary, as the new cabinet secretary. A distinguished 1987 Tamil Nadu cadre IAS officer, Somanathan will start his two-year term on August 30. With over 30 years of experience, including roles in the Prime Minister's Office and as a World Bank director, he is known for pivotal policy reforms. His contributions include the Aatmanirbhar Bharat packages, the PLI scheme, and the National Monetisation Pipeline, aiming to enhance economic growth and public finance efficiency.
Earn 7.5% interest rate: What is the last date to invest in Mahila Samman Savings Certificate?
The Mahila Samman Savings Certificate is a new government-backed scheme offering for women announced in Budget 2023. Note that the Mahila Samman Savings Certificate is a one-time scheme available for two years.
Apart from Post Office, you can open Mahila Samman Savings Scheme account only with these banks: Check full list
Mahila Samman Savings scheme: The Mahila Samman Savings Certificate, 2023, is a special small savings scheme offered by the Government of India exclusively designed for women investors. It is a one-time scheme that will be available for a period of two years, from April 2023 to March 2025.
Interest rate up to 7.5%: 5-year post office time deposit (POTD) is offering higher rates than these top 10 banks
Under the POTD scheme, senior citizens are not offered any higher rates than regular citizens, unlike many banks. Interest is paid annually but calculated quarterly.
Latest NSC interest rate: Is the National Savings Certificate interest rate higher than 5-year FD rates of SBI, HDFC Bank, ICICI Bank
National Savings Certificates is considered as the best option for risk-averse investors looking for consistent returns that are often higher than fixed deposits. NSC is a government-backed fixed-income investment scheme offered by India Post's small savings schemes.
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Latest Sukanya Samriddhi Yojana interest rate: What is the SSY interest rate for July- September 2024 quarter?
Latest Sukanya Samriddhi Yojana interest rate: The SSY is a government-backed small deposit savings scheme to benefit a girl child.
PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi, NSC, other small savings schemes' rates announced for July-September 2024 quarter
Latest Post Office Schemes interest rates: The government has announced that it will keep the interest rates unchanged for small savings schemes for July-September 2024. These schemes include the Public Provident Fund, Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposits (POTD), Mahila Samman Savings Certificate, and Post Office Monthly Income Scheme (POMIS).
Recurring deposit (RD) premature withdrawal: Eligibility, interest rate, other rules explained
Post office RD scheme: You might have invested money in a post office RD scheme, however due to any financial need or trouble you may wish to prematurely break it. This is because a post office RD scheme has a tenure of five years from the date of opening. Read here to know more about post office RD scheme.
New Post Office Act 2023 comes into effect from June 18: Check details
Post Office Act 2023: The Act's provisions allow the government to intercept articles sent via India Post for several reasons, including public order and state security. In the event of a public emergency or to maintain peace and safety, an interception may be carried out.
Latest interest rates of PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme, NSC, other post office schemes
Latest small savings schemes interest rates: The government has left the interest rates on small savings schemes for the quarter ending June 30, 2024. Latest interest rates of PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme, NSC, and other post office schemes.
Top post office schemes: These 9 small savings schemes offer above 7% interest rate
Post office schemes interest rates: The government has kept the interest rates on small savings plans unchanged for the quarter ending June 30, 2024. Here are nine post office schemes that offer more than 7% interest.
Anticipating INDIA bloc victory, women rush to open India Post accounts to get Rs 8,500 per month
Bengaluru's General Post Office is crowded with women, mainly from minority communities, rushing to open India Post Payment Bank accounts. They believe they'll receive Rs 8,500 monthly if the INDIA bloc wins the election. The Chief Post Master clarified it's a rumor, but the rush persists, with hundreds of accounts opened daily.
Indian students shun UK universities for Master's degrees amid visa clampdown
Official statistics from London reveal a significant decrease in Indian students pursuing higher education in the UK, with over 21,000 fewer applicants for Master's degrees compared to the previous year. This decline, highlighted by UK Home Office data based on Office for National Statistics (ONS) figures, marks a 16% drop in Indian student applicants over the year ending December 2023, contributing to a 10% overall decline in net migration compared to 2022. The decrease is attributed to stricter visa regulations affecting students' ability to sponsor family dependents, spouses, or children, prompting concerns from universities reliant on overseas student fees.
What is UK Post Office Scandal? Who is Paula Vennells?
UK Post Office Scandal has created quite a public uproar in that country as the former British Post Office boss Paula Vennells is facing a public inquiry.
Online PAN verification: You may not be able to invest in post office schemes if there is a mismatch in PAN details
Do note that from April 1, 2023, it is mandatory to provide PAN and Aadhaar details to invest in post office schemes. In case of any discrepancy, you may not be able to invest in these schemes.
PPF, SSY, Senior Citizen Savings Scheme, other post office schemes interest rates for April- June quarter 2024
Post office schemes interest rates for April-June quarter: The government revises small savings schemes interest rates every quarter. Here is a look at the interest rates on various post office schemes for the first quarter of FY 2024-25 along with its compounding frequency.
Post office term deposit (POTD) vs banks tax-saving fixed deposits (FDs): Which offers higher interest rate?
Post Office Time Deposit (POTD) of 5 year tenure vs bank tax-saving FDs: Here is a comparison of 5-year POTD vs major banks’ tax saving fixed deposits.
Can you withdraw Post Office MIS before maturity? MIS premature withdrawal rules and penalties explained
Post Office Monthly Income Scheme Account (MIS): Did you invest in MIS? Then you must know the rules and conditions for withdrawing your money prematurely. Read here to know more about Post Office Monthly Income Scheme Account (MIS) and when is interest paid if you close it prematurely.
PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi and other small savings schemes' rates announced for April-June quarter; check here
Latest small savings schemes interest rates: Here is a look at the interest rates on various small savings schemes for the fourth quarter of FY 2023-24.
Earn 7.4% interest on Post Office Monthly Income Scheme; do you get tax benefits for investing in POMIS?
Post Office Monthly Income Scheme: India Post offers a range of investment opportunities, including the Post Office Monthly Income Scheme (POMIS). With POMIS, investors receive monthly interest payments, with the interest rate being adjusted by the government on a quarterly basis.
Sukanya Samriddhi, 3-year post office FD rates hiked up to 20 bps; check latest small savings schemes interest rates
Latest post office schemes interest rates: Here is a look at the interest rates on various small savings schemes for the fourth quarter of FY 2023-24.
Will PPF interest rate be finally hiked in 2024 after remaining unchanged since April 2020?
PPF, Senior Citizen Savings Scheme, and Sukanya Samriddhi Account: Interest rates of small savings schemes are due for revision at the end of this month. The interest rates of small savings schemes are linked to yields of 10-year Government Securities in the secondary market. There are set formulae for mark-ups over the previous three months’ average yield of relevant G-Secs of comparable maturity. Let's see if you are in for a New Year bonanza from the Central Government this time.
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