Small Savings Scheme Vs Bank FD
Delhi
Small Savings Schemes Vs Bank FD: Due to three consecutive misunderstandings on small savings adjustments, Post Office Term Deposits (Post Office Term Deposits) have once again become FDs (Bank FDs) in terms of giving returns. Under small savings schemes, a two-year term deposit in the post office is getting a basis of 6.9 years, which is going to go to jams matching the parity of most parties. In such a situation, it is very important for you to know that it is better for you to invest in small saving proxy or bank FD.
read this also
The Reserve Bank started the process of increasing the repo rate in May 2022 and since then it has increased from four percent to 6.50 percent. The effect of this was that in the second cycle of the last financial year, the partners started focusing more on small deposits for more funds. As a result, the weighting average domestic fixed deposit rate (WADTDR) on fresh deposits of shares during May 2022 to February 2023 increased to 2.22 per cent. At the same time, in the first review of FY 2022-23, the shares were higher on large deposits. But in the second cycle, his priority changed and he focused more on bad deposits. Under this distraction, he was cheated.
The government has increased the interest rate for small savings (interest rate for small savings schemes) by 0.1-0.3 percent for the October-December quarter, 0.2-1.1 percent for the January-March quarter and 0.1-0.7 percent for the April-June 2023 quarter became a Buddhist. Prior to this, there was no change in the small savings figure for nine consecutive quarters. None of these were disclosed from Q2 of FY 2020-21 to Q2 of 2022-23. The interest rates on small savings schemes are decided by the government.
The Reserve Bank of India (RBI) said, “Banks’ term deposit yields are set to be competitive with post office term deposit rates.” And in March, 2022 was 5.2 percent. Small Savings Accounting Wages, after increasing thrice in a row every year, is now earning a return of 6.9 per cent on deposits. This rate was 5.5 percent in September 2022.
The country’s largest bank (SBI interest rate) is paying interest of 6.8 years on deposits of more than one year and less than two years. On the other hand, the interest rate of vigilance is 7 percent for a jump of more than two years and less than three years. Cess has further upgraded its External Light-based Lending Rating (EB Liq) to 2.50 per cent in line with the incremental policy repo rate during May 2022-March 2023. During this period, the Marginal Cost Based Lending Rate ie MC Dad (MCLR) declined by 1.40 years.