Fixed deposits interest rates offered by post offices hiked by 0.2%

Government of India on 4th March 2014 hiked the interest rates on fixed deposit scheme that is offered by post offices by up to 0.2 percent. 

These new interest rates will be effective from 1st April 2014 onwards.

After this hike :

• Return on 1 to 2 years deposit – hiked by 20 basis points from 8.2 percent to 8.4 percent 
• Return on 3-year maturities – hiked from 8.3 percent to 8.4 percent
• Return on for 5-year deposits - it has been raised to 8.5 percent