INSUBCONTINENT EXCLUSIVE:
Interest rates on fixed deposits and recurring deposits are compounded quarterly.The government has hiked interest rates on fixed deposits
(FD) and recurring deposits - along with the interest rates on other small saving schemes - for the quarter ending December 2018
FD interest rates have been hiked across maturities of one year, two years, three years, and five years
been recalibrated on a quarterly basis
The interest rates of small saving schemes are linked to government bond yields
Earlier, they used to be revised annually.What fixed deposit, recurring deposit interest rate hike means for youThe latest move from the
government means that your investments in fixed deposits will now fetch an interest rate which is higher by 0.3 to 0.4 per cent
Your investments in recurring deposits will fetch an interest rate which is higher by 0.4 per cent.A one-year fixed deposit will now fetch
an interest rate of 6.9 per cent as compared to the earlier interest rate of 6.6 per cent; a two-year fixed deposit will offer an interest
rate of 7 per cent as compared to the earlier 6.7 per cent; a three-year fixed deposit will get you an interest rate of 7.2 per cent as
compared to the previous rate of 6.9 per cent; and a five-year fixed deposit will now fetch a return of 7.8 per cent, 0.4 per cent higher
than the earlier 7.4 per cent, the government said.On five-year recurring deposits, you will get an interest rate of 7.3 per cent as
compared to the earlier rate of 6.9 per cent.Interest rates on fixed deposits and recurring deposits are compounded quarterly.The government
