PPF Interest Rate Update: Lakhs of people invest in PPF Scheme. One advantage of investing in this is that there is an opportunity to invest in this scheme for the long term. However, now people should know the important updates related to this scheme. This is also going to affect people.
PPF Interest Rate: Many schemes are being run by the Modi government in the country for the benefit of the people. The welfare of the people is also being done by the government through these schemes. At the same time, many schemes are being run by the government to benefit the employed people also. One of these is Public Provident Fund (PPF). However, now an important update has come out from the government regarding PPF, about which people investing in PPF should know.
PPF Scheme
Actually, PPF is a savings scheme run by the Central Government. Through this saving scheme, people are encouraged by the government to invest and save. Apart from this, people also get tax benefits in this scheme and people can also save tax through this scheme.
Interest on PPF
At the same time, interest on this scheme is provided by the government. This interest is also reviewed by the government every quarter. Recently, the interest paid on PPF has been reviewed by the government. In such a situation, there has been no change in the interest rate given on PPF and it has been kept stable. In such a situation, interest of 7.1 percent will be given on PPF in the quarter of October-December 2023 also.
PPF Amount
PPF is a savings and investment scheme. Its maturity is 15 years. Through this scheme, people can invest a maximum of Rs 1.5 lakh in a financial year. Also, in this scheme it is necessary to invest a minimum of Rs 500 in a financial year. Apart from this, people can avail tax benefits under Section 80C of the Income Tax Act through this scheme.
