RBI Interest Rates

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RBI interest rates on different categories

 Crop loan 

Upto 3 laks 4%

Beyond 3 lakhs 7%

Self Help-Groups-7%

Student Loans

Direct Subsidized Loans-Undergraduate-3.6%

This rates are under Individual Banks

1) Public Provident Fund (PPF) – 8%
2) Kisan Vikas Patra (KVP) – 7.7%
3) Five-Year National Savings Certificate (NSC) – 8%
4) Sukanya Samriddhi Account (SSA) Scheme – 8.5%

*PPF rates reduced again!*
🔹The govt has reduced the rates on Public Provident Fund(PPF) from 8.1% to 8.0% w.e.f 1st Oct 2016.
🔹Similarly, govt has revised the rates on
»Sukanya Samriddhi Yojna 8.6% to 8.5%p.a.
»KVP from 7.8% to 7.7% p.a.
»5Yr NSC from 8.1% to 8% p.a.
»1yr time deposit from 7.1% to 7.0%
Term deposits of 2,3, 5yr time deposits have also been reduced by 10bps to 7.1%,7.3% and 7.8% respectively.
»5yr senior Citizen Savings scheme from 8.6% to 8.5%
🔹The govt has again set the platform for the RBI to reduce rates when the Monetary policy committee will meet on 4th Oct 2016.
🔹This will signal banks to further reduce their FD rates and correspondingly interest rates on loans shall reduce.

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