If you have also invested in PPF, then this news will make you happy. Next month i.e. on June 30, the interest on small savings schemes for the July-September quarter will be announced by the Finance Ministry.
This time it is expected that the interest rate of PPF is expected to be increased by the Finance Ministry. Earlier on March 31, the Finance Ministry had increased the interest rate on Sukanya Samriddhi Yojana.
Interest rate will increase to 7.6 percent
Sources claim that this time the interest rate of PPF can be increased by half a percent from the Ministry of Finance. After this change, the interest rate of PPF will increase from 7.1 percent to 7.6 percent.
You can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a PPF account in a year. By investing here, you get exemption under section 80C of income tax.
Small savings schemes and interest earned on them
- Senior Citizen Savings Scheme: 8.2 percent
- Interest rate on National Savings Certificate (NSC): 7.7 percent
- The interest rate on Sukanya Samriddhi Yojana has been increased to 8 percent per annum
- The interest rate on Kisan Vikas Patra has been increased to 7.5 percent.
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