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Monthly Income Scheme (MIS) and Public Provident Fund (PPF) Rate of Interest hiked 0.5%

Monthly Income Scheme (MIS) and Public Provident Fund (PPF) rates of interest have been increased by 0.5 per cent. The new rates will be effective from April 1, 2012 and will remain valid during 2012-13.

It is pertinent to note that the Interest rates on time deposits of one and two years have been increased by 0.5 per cent each to 8.2 per cent and 8.3 per cent respectively, while rates for popular monthly income scheme (MIS) has been hiked by 0.3 per cent to 8.5 per cent.

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