If I extend my Public Provident Fund (PPF) account, will I get the old interest rate? Can it be extended only for three years?
- Kolluri Kameswararao
You can extend your Public Provident Fund (PPF) account on maturity after 15 years by a block period of five years. You will not be allowed to extend it for less than or more than 5 years. The interest rate on Public Provident Fund (PPF) scheme is not fixed till maturity or in the extended block. Whenever the government revises interest rate on PPF, the revised rate is applicable to both existing and new accounts. Earlier the rate was revised mostly at the beginning of every financial year. However, the rate would be revised every quarter from 2016-17.
This article was originally published on April 04, 2016.
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