NEWS ON INTEREST RATES

NEWS ALERT DATED 09.10.2024 : REPO RATE KEPT UNCHANGED

RBI Changes stance to " Neutral "

The Reserve Bank of India announced today that the Repo rate under the liquidity adjustment facility (LAF ) is kept at 6.50 % in today's Bi-monthly MPC meeting. The standing deposit facility (SDF) rate stands at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent, as per RBI's announcement.
.The MPC also decided to change the monetary policy stance to ‘neutral’ and to remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.

These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

Shri Saugata Bhattacharya, Professor Ram Singh, Dr. Rajiv Ranjan, Dr.Michael Debabrata Patra and Shri Shaktikanta Das voted to keep the policy repo rate unchanged at 6.50 per cent. Dr. Nagesh Kumar voted to reduce the policy repo rate by 25 basis points.

Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Professor Ram Singh, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted for a change in stance from withdrawal of accommodation to ‘neutral’ and to remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.


To read RBI PRESS RELEASE, CLICK HERE
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To know the effects of RBI'S Repo rate policy, CLICK HERE

SMALL SAVINGS TERM INTEREST RATES KEPT UNCHANGED
POST OFFICE INTEREST RATES

DATED 30.09.2024 : The interest rates on small savings schemes for the ensuing quarter from October 2024 to December 2024 are kept unchanged and the present rates will continue up to 31st , December 2024 .
The rates are

1. The Public Provident Fund : 7.1 % pa
2. Kisan Vikas Patra ( KVP ) : 7.5 % pa
3 . The 5 Year National savings Certificates ( NSC ) : 7.70 % pa
4. Sukanya Samruddhi Account : 8.20 % pa
5. Senior Citizen Scheme : 8.20 % . pa
6. Monthly Income scheme : 7.4 % pa
7. Term Deposits : For the period 1 year :6.9 % pa
For the period 2 years : 7.0 %
For the period 3 years : 7.10 %
5 year term deposit : 7.50 % pa
5 year Recurring Deposit : 6.7% pa

​To know about various post office small savings schemes , CLICK HERE

​To check interest rates offered by Banks in India , CLICK HERE

NEWS ALERT DATED 08.08.2024 : REPO RATE KEPT UNCHANGED

The Reserve Bank of India announced today that the Repo rate under the liquidity adjustment facility (LAF ) is kept at 6.50 % in today's Bi-monthly MPC meeting. The standing deposit facility (SDF) rate stands at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent, as per RBI'S announcement.

The MPC also decided to remain focused on withdrawing accommodation to ensure that inflation progressively aligns to the target, while supporting growth. These decisions are in consonance to achieve the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 percent, while supporting growth.

Dr. Shashanka Bhide, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to keep the policy repo rate unchanged at 6.50 percent. Dr. Ashima Goyal and Prof. Jayanth R. Varma voted to reduce the policy repo rate by 25 basis points.

Dr. Shashanka Bhide, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target while supporting growth. Dr. Ashima Goyal and Prof. Jayanth R. Varma voted for a change in stance to neutral.

​
To read RBI PRESS RELEASE, CLICK HERE
​
To know the effects of RBI'S Repo rate policy, CLICK HERE

SMALL SAVINGS TERM INTEREST RATES KEPT UNCHANGED
POST OFFICE INTEREST RATES

DATED 28.06.2024 : The interest rates on small savings schemes for the ensuing quarter from July 2024 to September 2024 is kept unchanged and the present rates will continue up to 30th, September 2024 .
The rates are

1. The Public Provident Fund : 7.1 % pa
2. Kisan Vikas Patra ( KVP ) : 7.5 % pa
3 . The 5 Year National savings Certificates ( NSC ) : 7.70 % pa
4. Sukanya Samruddhi Account : 8.20 % pa
5. Senior Citizen Scheme : 8.20 % . pa
6. Monthly Income scheme : 7.4 % pa
7. Term Deposits : For the period 1 year :6.9 % pa
For the period 2 years : 7.0 %
For the period 3 years : 7.10 %
5 year term deposit : 7.50 % pa
5 year Recurring Deposit : 6.7% pa

​To know about various post office small savings schemes , CLICK HERE

​To check interest rates offered by Banks in India , CLICK HERE

NEWS ALERT DATED 07.06.2024 : REPO RATE KEPT UNCHANGED

The Reserve Bank of India announced today that Repo rate under the liquidity adjustment facility (LAF ) is kept at the same level of 6.50 % in today's Bi-monthly MPC meeting . The standing deposit facility (SDF) rate stands at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent , as per RBI'S announcement .

The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

Dr. Shashanka Bhide, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to keep the policy repo rate unchanged at 6.50 per cent. Dr. Ashima Goyal and Prof. Jayanth R. Varma voted to reduce the policy repo rate by 25 basis points.

Dr. Shashanka Bhide, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth. Dr. Ashima Goyal and Prof. Jayanth R. Varma voted for a change in stance to neutral.
​
To read RBI PRESS RELEASE , CLICK HERE
​
To know the effects of RBI'S Repo rate policy , CLICK HERE

NEWS ALERT DATED 05.04.2024 : REPO RATE KEPT UNCHANGED

The Reserve Bank of India announced today that Repo rate under the liquidity adjustment facility (LAF ) is kept at the same level of 6.50 % in today's Bi-monthly MPC meeting . The standing deposit facility (SDF) rate stands at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent , as per RBI'S announcement .

The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

M.P.C Members Dr. Shashanka Bhide, Dr. Ashima Goyal, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to keep the policy repo rate unchanged at 6.50 per cent. Prof. Jayanth R. Varma voted to reduce the policy repo rate by 25 basis points.

Members Dr. Shashanka Bhide, Dr. Ashima Goyal, Dr. Rajiv Ranjan, Dr. Michael Debabrata Patra and Shri Shaktikanta Das voted to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth. Prof. Jayanth R. Varma voted for a change in stance to neutral.
​
To read RBI PRESS RELEASE , CLICK HERE

SMALL SAVINGS TERM INTEREST RATES KEPT UNCHANGED
POST OFFICE INTEREST RATES

DATED 11.03.2024 : The interest rates on small savings schemes for the ensuing quarter from April 2024 to June 2024 is kept unchanged and the present rates will continue up to 30th, June 2024 .
The rates are

1. The Public Provident Fund : 7.1 % pa
2. Kisan Vikas Patra ( KVP ) : 7.5 % pa
3 . The 5 Year National savings Certificates ( NSC ) : 7.70 % pa
4. Sukanya Samruddhi Account : 8.20 % pa
5. Senior Citizen Scheme : 8.20 % . pa
6. Monthly Income scheme : 7.4 % pa
7. Term Deposits : For the period 1 year :6.9 % pa
For the period 2 years : 7.0 %
For the period 3 years : 7.10 %
5 year term deposit : 7.50 % pa
5 year Recurring Deposit : 6.7% pa

SMALL SAVINGS TERM INTEREST RATES HIKED FOR 3 YEAR TIME DEPOSIT
Sukanya Samruddhi Account Rate up
POST OFFICE INTEREST RATES

DATED 29.12.2023 : The interest rates on some small savings schemes for the ensuing quarter from January 2024 to March 2024 is announced today . Except for 3 year time deposit and Sukanya Samruddhi Account scheme , all other rates are kept unchanged . The 3 year time deposit is enhanced to 7.10 % from existing 7.00 % pa . Sukanya samruddhi account will now fetch 8.2 % pa

The new rates are

1. The Public Provident Fund : 7.1 % pa ( No change )
2. Kisan Vikas Patra ( KVP ) : 7.5 % pa ( No change )
3 . The 5 Year National savings Certificates ( NSC ) : 7.70 % pa ( No change )
4. Sukanya Samruddhi Account : 8.20 % pa ( Earlier 8.00 % pa )
5. Senior Citizen Scheme : 8.20 % . pa ( No change )
6. Monthly Income scheme : 7.4 % pa ( No change )
7. Term Deposits : For the period 1 year :6.9 % pa ( No change )
For the period 2 years : 7.0 % ( No change )
For the period 3 years : 7.10 % ( Earlier 7.0 % pa )
5 year term deposit : 7.50 % pa ( No change )
5 year Recurring Deposit : 6.7% pa ( No change )

For Ministry of Finance Office Memorandum dated 29.12.2023 CLICK HERE ​