I have subscribed to Public Provident Fund (PPF) since March 2015. Will I be getting 8.7 per cent on my investment in PPF till the maturity? Whether new interest rate will be applicable to new PPF accounts opened on or after April 1 or applicable to existing account holder also? Please clarify.
- Dharmendra Verma
The interest rates on Public Provident Fund (PPF) scheme is not locked-in till maturity. The government revises interest rate on PPF periodically and the revised rate is applicable to both existing and new accounts. Earlier the rate was declared mostly at the beginning of every financial year. However, the rate would be revised every quarter from 2016-17. The money in your PPF account will get 8.7 per cent till March 2016 and 8.10 per cent from April 1 to June 30.
This article was originally published on March 29, 2016.
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