Does the money deposited in PPF earn interest at the same rate at the time of deposit? Or does it keep changing? For example, if I deposit ₹50,000 now at 8.1 per cent and the next quarter the interest changes to 9 per cent. Will my deposit continue to earn 8.1 per cent or 9 per cent?
- Rishabh Bharadwaj
The interest rate on Public Provident Fund (PPF) scheme is not fixed till maturity. Whenever the government revises interest rate on PPF, the revised rate is applicable to both existing and new investments. 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 May 16, 2016.
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