As per the G.O (P) No. 50/2011/Fin dated 22.1.2011, Government had revised the rate of interest on term deposits in the Treasury with effect from 1.2.2011.Government have reviewed the position again and are pleased to revise the rate of interest on term deposit of 3 years and above as follows .
EXISTING RATE
FD 3 yrs & more (General) @ 9.00%
FD 3 yrs & more (Senior Citizen) @ 9.50%
REVISED RATE
F.D. 3 yrs & more (General) @ 8.50%
FD 3 yrs & more (Senior Citizen) @ 9.00% The rate of interest on other term deposits remain unchanged
For details view GO(P)No.143/2013/Fin Dated 25/03/2013
3 comments:
Very bad!. The treasury FIXED DEPOSIT Interest rate has been always 1% higher than Bank rate. In fact it attracted huge amount of Deposits from every part of Kerala keeping and balancing the financial position of the government. By reducing the interest rate the government is helping the banking lobby resulting empty treasury. Who will get the benefits? Instead of using our own money begging for bank money for what?. Government treasury is providing all services free to the public. But bank deducts service charge for everything. The treasury department is fully computerised and capable to do all banking activities better. But why this is happening..........????????????????. who will suffer?......we the poor people of kerala
Yes,I also share the same comments. The rates should have been higher than bank rates. The Govt can not attract FDs.
by lowering interest rates govt is directly helping the private finacial institutions.this unfortunate.
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