Govt increases maturity period of KVP, reduces maturity value of NSC VIII issue & National Savings Recurring Deposit Scheme, interest rates of National Savings (Monthly Income Account) Scheme also reduced
The Govt has increased the maturity periods of various popular savings schemes of common man namely;
(i) Kisan Vikas Patra 2019 Scheme
– maturity period increased
(ii) National Savings Certificates (VIII Issue) 2019 Scheme
– maturity value decreased
(iii) National Savings Recurring Deposit Scheme, 2019
– maturity value decreased
(iv) National Savings (Monthly Income Account) Scheme, 2019
– interest rates reduced
Govt increases maturity period KVP reduces maturity value of NSC and interest rates of savings schemes
As per the amended schemes the maturity period / value of various schemes shall be as under:
Kisan Vikas Patra
|
Maturity period of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) |
Nine years and five months. |
|
Maturity period of an account opened on or after the 1st day of April, 2020 |
Ten years and four months. |
National Savings Certificates (VIII Issue)
|
Maturity value of an account opened between 12th December, 2019 to 31st March, 2020 (both days inclusive) with 1000 rupees |
Rs. 1462.54 |
|
Maturity value of an account opened on or after the 1st day of April, 2020 with 1000 rupees |
Rs. 1389.49 |
National Savings Recurring Deposit Scheme, 2019
|
From 12.12.2019 to 31.03.2020 |
Rs. 7231.38 |
|
On or after 01.04.2020 |
Rs, 6969.67 |
National Savings (Monthly Income Account) Scheme, 2019
|
Deposit made under this Scheme between 12th December, 2019 to 31st March, 2020 (both days inclusive) |
Interest @ 7.6% p.a. |
|
Deposit made on or after 1st day of April, 2020 |
Interest @ 6.6 % p.a. |
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