SAVINGS BANK INTEREST RATES AT A GLANCE-Past 2 years

INTEREST RATE TABLE
Name of scheme	Period	Up To 30/11/2011	w.ef 1/12/2011	w.e.f 1/4/2012	w.e.f 1/4/2013
Savings Account	General	3.50%	4.00%	4.00%	4.00%
Time Deposit	I yr	6.25%	7.70%	8.20%	8.20%
	2 yr	6.50%	7.8%	8.30%	8.20%
	3 yr	7.25%	8.00%	8.40%	8.30%
	5 yr	7.50%	8.30%	8.50%	8.40%
Recurring Deposit	5 yr	7.50% 10-728.90	8.00% 10-738.62	8.40% 10-746.51	8.30% 10-744.53
M I S	5 yr	8.00% (6 Yr)	8.20%	8.50%	8.40%
S C S S	5 yr	9%	9.00%	9.30%	9.20%
P P F	15 yr	8%	8.6%	8.80%	8.70%

Courtesy : http://saparavur.blogspot.in/

INTEREST TABLE W.E.F 01.04.2013

INTEREST TABLE W.E.F 01.04.2013

RD Maturity Value for Denomination of Rs.100

Maturity Value before 01.12.2011	Maturity Value w.e.f 01.04.2012 to 31.03.2013	Maturity Value w.e.f 01.04.2013
Interest @ 7.5 %	Interest @ 8.4 %	Interest @ 8.3 %
Rs. 7289/-	Rs. 7465/-	Rs. 7445/-

RD Maturity Value for Denomination of Rs. 100/-

in case of extension after 5 Years

Maturity Period	Interest @ 8.40 % 01.04.2012 to 31.03.2013	Interest @ 8.30% w.e.f 01.04.2013
5 Years	7465	7445
6 Years	9368	9338
7 Years	11436	11392
8 Years	13682	13622
9 Years	16124	16044
10 Years	18777	18672

MIS Monthly Interest for Denomination of Rs.150000/-

Monthly Interest before 01.12.2011	Monthly Interest  w.e.f 01.04.2012 to 01.04.2013	Monthly Interest  w.e.f 01.04.2013
Interest @ 8.0%	Interest @ 8.5%	Interest @ 8.4%
Rs. 1000/-	Rs.1062/-	Rs.1050/-

NSC5 Year Maturity Value for Denomination of Rs.10000/-

Maturity Value before 01.12.2011	Maturity Value  w.e.f 01.04.2012 to 31.03.2013	Maturity Value  w.e.f 01.04.2013
Interest @ 8.0%	Interest @ 8.6%	Interest @ 8.5 %
Rs. 16010/- (6 Year)	Rs.15235/- (5 Year)	Rs.15162/- (5 Year)

NSC 10 Year Maturity Value for Denomination of Rs.10000/-

Maturity Value  w.e.f 01.04.2012 to 31.03.2013	Maturity Value  w.e.f 01.04.2013
Interest @ 8.9%	Interest @ 8.8%
Rs.23887/-	Rs.23660/-

SCSSQuarterly Interest for Denomination of Rs.100000/-

Interest @ 9.3%	Interest @ 9.2%
Quarterly Interest  w.e.f 01.04.2012 to 31.03.2013	Quarterly Interest  w.e.f 01.04.2013
Rs.2325/-	Rs.2300/-

Courtesy : http://akulapraveen.blogspot.in/

Measures to Check Fall in Saving Deposits

The details of saving deposits with Banks and Gross and Net Small Savings Collections during 2009-10, 2010-11, 2011-12 and during the current year are given below:-

(Rs. In Billion)

	2009-10	2010-11	2011-12	2012-13
Saving Deposits with Banks	11,367	12,855	14,442	15,578(April-August)
Gross Small Savings Collections	2509.3	2,747.2	2,190.0	516.7 (April-June)
Net Small Savings collections	643.5	586.5	6.5	(-) 19.2 (April-June)

           While the saving deposits with banks have a positive growth, there has been a decline in gross and net small savings collections.

            The Government, inter alia, has taken the following decisions with regard to interest rates and other measures for making small saving schemes attractive:-

1.      The rate of interest on small savings schemes has been aligned with G-Sec rates of similar maturity, with a spread of 25 basis points (bps) with two exceptions.  The spread on 10 year NSC (new Instrument) will be 50 bps and on Senior Citizens Savings Scheme 100 bps.

2.      The rate of interest on Post Office Savings Account (POSA) has been increased from 3.5 % to 4%.   The ceiling of maximum balance in POSA (Rs. 1 lakh in single account and Rs. 2 lakh in joint account) has been removed.

3.      The maturity period for Monthly Income Scheme (MIS) and National Savings Certificate (NSC) has been reduced from 6 years to 5 years.

4.      A new NSC instrument, with maturity period of 10 years, is being introduced.

5.      The annual ceiling on investment under Public Provident Fund (PPF) Scheme has been increased from Rs. 70,000 to Rs. 1 lakh.

6.      Liquidity of Post Office Time Deposit (POTD)-1,2,3 & 5 years – has been improved by allowing pre-mature withdrawal at a rate of interest 1% less than the time deposits of comparable maturity.  For pre-mature withdrawals between 6-12 months of investment, Post Office Savings Account (POSA) rate of interest will be paid.

The Reserve Bank of India has also deregulated the savings bank deposit interest rate effective October 25, 2011.  Banks are now free to determine their savings bank deposit interest rate, subject to the following two conditions: First, each bank will have to offer a uniform interest rate on savings bank balances up to Rs. 1 lakh, irrespective of the amount in the account within this limit.  Second, for savings bank balances over Rs. 1 lakh a bank may provide differential rates of interest, if it so chooses.

 This was stated by the Minister of State for Finance, Shri   Namo Narain   Meena in written reply to a question in the  Rajya  Sabha today.

Source : PIB

Take care of money, as it will take care of you

Why do we lose money? Why are we generally not happy with our financial decisions? Why did it have to happen to me? Why did it happen when I invested my money? The answer is really simple but it is going to be very hard to digest.

Either we are complacent or just that we do not want to take the effort. This is a plain cold fact. If I had to put a number to this, reasonable estimate would be 10 per cent Vs 90 per cent, ie 10 per cent people are just complacent, while 90 per cent just do not want to take the effort. What makes things worse is that these 90 per cent people want short-cuts. Just quickly give me an investment tip, what's the best investment, what's new these days, where can I get the maximum returns, what is safe but can give very high returns,

I have got so and so investment, what are the prospects, what is the future? These are normally the questions most people want to ask. Everyone wants a quick fix and no one is really interested in spending time or effort. What makes matters worse is manufacturers exploiting this and launching new products regularly.

Ironical that the manufacture now says things like, this product is better than ever before which in other words means what they were selling till now was not so good.

Remember there are no short-cuts and nothing worthwhile in life is ever free. The next time you get something for free, just pause to think if there is really much value, commitment and credibility if you were to act upon that piece of information. Rarely this is true; remember free information in financial matters can be grave. In my view if you want something, you have to work hard for it. Then you have to spend time and money. There is no other way.

Life will continue to be more ever so busy and just like your children, your parents, your money also needs due attention. Irrespective of whether you are the do-it-yourself person or the lets-get-help person, the dire need of the hour is a serious investment of time.

So if you are the do-it-yourself person then is a lot to learn first. Educate yourself thoroughly. Spend money for educational books, courses, software, magazines, subscriptions etc. Learn the basics. Move over to advanced knowledge then. Whichever stream you choose, be it day trading, options, futures, currency, stocks, bullion, mutual funds, insurance, fixed income, there is an ocean of information to digest. This is a lot of hard work. On the other extreme you could simply bypass all this and invest in a bank fixed deposit.

But if you are keen to make wealth then get involved in the process and don't depend on friendly neighbourhood advice or the advice of your friend's friend who is a broker/ agent. Just think if you had to buy vegetables for 50 rupees you would check prices with three vendors. But you would not blink to invest Rs 50,000 on a hot tip.

So do you see why we lose money or are not happy with our financial decisions? For something that we want the most in our lives we spend the least amount of effort and time. We want to enjoy spending money but do not do enough to ensure that we have enough of it forever. We are not prepared to work hard; we are not prepared to seek the right advice. These days information is easily available and geography is irrelevant. All one needs to do is take the first small step, ie, to decide to invest time and effort for personal financial matters. If you don't take care of money, money will never take care of you. It's that simple.

On the other hand if you do not have the time and patience to do things yourself, the least you can do is invest time in searching and hiring a financial advisor.

Basically, if you can hire lawyers, chartered accountants, doctors etc for their service why do you want to risk your hard earned money? Invest time to talk to 3 or 4 or 5 experts if you want but finally choose the one you like and you feel most satisfied and

comfortable to work with.Don't waste your time with agents and brokers who are merely product distributors. But to do this is also a lot of hard work and it will be worth all the time spent. Is that too much to do for a lifetime of peace and financial control? Just invest this time once. Finding a good advisor is one short-cut you can afford to take. 

By Kartik Jhaveri, Director - Transcend Consulting 

Courtesy: The Financial Express, August 13, 2012

LATEST INTEREST RATES CHART... ... (w.e.f. 01.04.2012)

Scheme	Term	Rate of Interest	Monthly Deposit	Total Interest	Maturity Amount
RD	5 Yr	8.4 % QCI	1000	14651	74651

Scheme	Term	Rate of Interest	Deposit Amount	Total Interest	Maturity Amount
TD	1 Yr	8.2 % QCI	10000	846	10846
	2 Yr	8.3 % QCI	10000	1712	11712
	3 Yr	8.4 % QCI	10000	2601	12601
	5 Yr	8.5 % QCI	10000	4385	14385
MIS	5 Yr	8.5 % SI	15000	6360	21360
SCS	5 Yr	9.3 % SI	10000	4660	14660
NSC	5 Yr	8.6 % HCI	10000	5235	15235
	10 Yr	8.9 % HCI	10000	13887	23887

Courtesy : http://manooss.blogspot.in/ & http://makeonlinetricks.blogspot.com/