2021
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Bihar
|
|
|
West Bengal
|
|
|
Uttar Pradesh
|
|
|
Madhya Pradesh
|
Detailed explanation-1: -Most bank FDs provide a slightly lower rate of return than the current PPF rate of 7.1%. The highest FD rate in SBI Bank is 5.40% (for a tenure of 5-10 years). The highest FD rate in ICICI Bank is 5.35% for 5-10 years. The highest FD rate in Axis Bank is 5.75% for a term of 5 to 10 years.
Detailed explanation-2: -National Savings Certificate (NSC) The NSC interest rate is 7.0% per annum compounded half-yearly but payable at maturity. That means, your investment of Rs. 100, 000 will yield you Rs. 1, 40, 255 after 5 years.
Detailed explanation-3: -7.1% per annum. Rs 1.5 lakh per annum. Public Provident Fund (PPF) scheme is a long-term investment option that offers an attractive rate of interest and returns on the amount invested. The interest earned and the returns are not taxable under Income Tax.