PPF – Important news for PPF account holders. Actually a big update has been issued for PPF account holders. Under which it has been said that the interest rates have been changed. Which is very important for you to know…
Many types of schemes are being run by the government. One of these Public Provident Fund i.e. PPF scheme is also included. The PPF scheme comes under the Central Government and investors can deposit money in this scheme for a long period. At the same time, interest is given on the money deposited in the PPF account. However, now a big update has come out regarding the interest paid on PPF account.
PPF interest-
At present, in the January-March 2023 quarter, 7.1 percent interest is being given annually in the PPF account on a compounding basis. The interest rate given on PPF is reviewed every three months by the Central Government and changes are also made if needed. There has been no change in the interest given in the PPF account for a long time.
PPF–
However, now there is a possibility that the interest paid in the PPF account can be changed in the April-June 2023 quarter. From April 2020, interest is being provided at the rate of 7.1 percent only on PPF account. The interest rate offered in PPF account is not fixed and the government can change this interest rate after review if it wants.
PPF Account-
Explain that a citizen of India can invest in PPF account and it is necessary to invest a minimum of Rs 500 in this account every financial year. At the same time, a maximum investment of Rs 1.5 lakh can be made in this account. Along with this, the maturity of PPF account is 15 years and this account can be closed only after 15 years.
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