NEWS & ADVICE : SAVINGS ACCOUNTS
State saving scheme’s high interest is still a question
By Vaibhav Aggarwal
Dec 3, 2013
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The safe saving scheme which is supposed to provide high profits as per the promise of the state government with interest rates varying form 9.31% to 11.59% has raised eyebrows; even banks are having a tough time to offer their customers anything above an interest rate of 9.25% for a 5 year period.

The aim of the scheme is to target the states poor people, due to this; it would be a challenge to find investors for big investments. With investments which are of small size, executors will acquire more cost to visit remote regions to collect deposits. As per a money division official, the organization can bear to offer higher premium rates as expense of deposits is much more level.

As per analysts, the net profit of the West Bengal Infrastructure Development Finance Corporation, has gone up from Rs.12.36 crore during the year 2011-12 to Rs.1347 crore, for the year of 201-13


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