Bad news for small investors: PPF, NSC interest rates slashed
New Delhi: Your investment in Public Provident Fund (PPF) will now fetch lower returns than earlier with the government slashing interest rate on it from 8.8 per cent to 8.7 per cent.
The lower rate of interest will be applicable from April 1, 2013.
Interest rates on the 10-year National Savings Certificate (NSC) rates have also been lowered-- from 8.9 per cent from 8.8 per cent.
Savings deposit rate and one-year time deposit have been left unchanged at 4 per cent and 8.2 per cent, respectively.