CENTER VISION ON SMALL AMOUNTS

 

Kadapa,April 10,(globelmedianews.com):
The central government's decision to reduce the interest rate on small amounts is likely to effect savings deposits.Customers in the Kadapa division of about 1.20 lakh savings accounts will lose interest on their small savings.Interest rates on various small savings schemes, including PPF, are slashed today.In the backdrop, there were reports that people were forced to invest in small savings schemes for old interest rates across the country.Deposit rates have been reduced by a maximum of 1.3 per cent in schemes such as PPF, Kisan Vikas Role and Senior Citizens Savings Scheme. Common middle class sources are savings in small amounts for family purposes.It is possible to save Rs 100 to Rs1000.


CENTER VISION ON SMALL AMOUNTS

This reduction in three months from January to March decreases by 0.20 per cent, or two paisa. Small amounts of savings schemes with benefits that apply to income tax exemption along with government guarantee are well received from the public. The interest rate will be affected by seven types of schemes currently offered by the Post. The postal division of the district consists of more than Rs 10 crore in savings. The latest decision on investors will not have any effect. The interest rate reduction will be effective on the saving rate from January one. The Center is implementing the Sukanya Yojana scheme for the welfare of the children. This scheme, which was introduced by Prime Minister Modi, is very popular. But the interest rate is gradually declining. For every 14 years for the birth of a baby girl, every year at a rate of Rs. The scheme was initially at 9.2 percent and now it is 8.3 percent. It will drop by 0.20% from one date. Minor employees will be able to save their monthly income on a five-year plan after the retirement. It will meet family needs of interest. The interest rate reduction will also be affected. Interest rates are changed every three months in the postal department. According to the postal staff, new rates will be running from one date.

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