Revision of interest rate of Postal Schemes is being done by Finance Ministry of Indian Government. Government change the rate of the interest on quarterly basis. In this way, interest rates are changed four time in a year.
There are many saving schemes are available in Postal Department. The middle class public puts a huge trust on this department. There is no chance of lose of money in this department.
The second name of postal saving scheme is “Small Saving Scheme”. The agent facility is available for public. Agents are the mediator between public and post office. Now a days, some fraud issues come in to notice which are due to agents. Hence, each account holder has to verify the deposit amount in his passbook and also with post office.
Each and every quarter the rate is new. Hence, customer has chance to deposit his money with new rate in post office. The scheme wise new interest rate of each scheme w.e.f. 01.04.2020 to 30.06.2020 is as under.
Post office Saving Scheme
|Sl No.||Saving Scheme Name||Interest rate (%) (Per year)|
|5||1 TD, 2 TD, 3TD|
Post office Life Insurance Scheme
|Sl No||Insurance Scheme Name||Rate of bonus (per year)|
|1||WLA||Rs.76/- per thousand of sum assured|
|2||EA||Rs.52/- per thousand of sum assured|
|3||AEA||Rs.48/- per thousand of sum assured|
For more information of each life insurance scheme please visit the website https://www.topestnews.com/postal-life-insurance/ .
Government of India change the rate of interest on the base of Indian economy. Now the rate of interest of each scheme is very low and the main reason for that is Covid-19 (Corona Virus) pandemic in all over the world. This pandemic causes economy of each country.
The latest updates of the interest rate of each scheme of post office, please visit this site….