PPF Latest Interest Rate: Interest rates for Public Provident Fund (PPF), popular among working people, have been announced. There is no change in the interest rate of this scheme. Under the scheme, under IT section 80C Rs. Can claim tax benefits with a maximum deduction limit of 1.5 lakhs. Let’s know about PPF scheme and its interest rate.
what is the plan
You can start investing in a PPF account with a minimum of Rs 500. Investment in the account is risk free. The lock-in period of PPF account is 15 years. The maximum investment in this account is Rs 1.5 lakh per financial year. PPF accounts cannot be opened in the name of HUF, Trust or NRI. To maximize PPF returns you should try to deposit your monthly contributions on or before the 5th of the month. Your PPF return will be credited to your account at the end of the financial year.
The interest rate is 7.1 percent
The PPF interest rate for the July to September quarter will remain at 7.1 percent. It has been stable for a long time. Apart from this, interest rates on other small savings schemes have been kept unchanged. Among other schemes, the interest rate on deposits under Sukanya Samriddhi Yojana will be 8.2 per cent, while the rate on three-year fixed deposits will be 7.1 per cent. The interest rate of Post Office Savings Deposit Scheme will be 4 percent.
The rate of interest on Kisan Vikas Patra will be 7.5 percent and the investment will mature in 115 months. The interest rate on National Savings Certificate (NSC) for the period July-September 2024 will be 7.7 percent. In the September quarter as well, the Post Office will offer 7.4 per cent interest to monthly income scheme investors as before.