What is the PPF interest rate for 2021 22?
7.10%
As per the ministry circular, PPF will continue to earn 7.10%, the NSC will fetch 6.8%, and Post Office Monthly Income Scheme Account will earn 6.6%. Here is a look at the interest rates on various small savings schemes for the second quarter of FY 2021-22.
What will be the PPF interest rate in 2021?
Interest rates of PPF, NSC and other post office schemes kept unchanged by govt. As per the circular, PPF will continue to earn 7.10%, the NSC will fetch 6.8%, and Post Office Monthly Income Scheme Account will earn 6.6% for the quarter ending September 30, 2021.
What is PPF interest rate in post office?
7.1% per annum
PPF is a long-term investment for a period of 15 years currently offered at an interest rate of 7.1% per annum (compounded yearly). There is no minimum or maximum age of account opening.
Will post office interest rates increase in 2021?
Apart from this lower interest rates on deposits would push lower rates on borrowings, which in turn could propel borrowings and hence the economy. The government revises the interest rates on the different post office schemes every quarter. So, the next due date for revision is July 1, 2021.
Which is better for PPF bank or post office?
Having a PPF account in banks or post offices is equally benefitting. Whether a PPF account is opened in a bank or post office, the scheme features remain the same. One should also consider that just like banks, post offices also offer online facilities to access PPF accounts and other government savings schemes.
Can husband and wife both have PPF account?
By, opening PPF account in the name of spouse, the investor will be able to double one’s investment limit from ₹1.5 lakh to ₹3 lakh and will enjoy income tax exemption on PPF interest earned and PPF maturity amount in both PPF account.”
What is the interest rate of PPF in India?
PPF interest rate list year wise: Financial Year Time Period PPF Interest Rate (per annum) 2021-2022 April 2021 – June 2021 7.1% 2020-2021 April 2020 – March 2020 7.% 2019-2020 October 2019 – March 2020 7.9% 2019-2020 July 2019 – September 2019 7.9%
When does interest get credited to a PPF account?
When does interest gets credited to a PPF Account? Ans. Interest is credited to your PPF account at the end of each financial year. For example, interest for April 2019 to March 2020 will be credited to your PPF account on 31st March 2020.
Which is the tax exempt interest rate of PPF?
Income tax benefit under section 80C on invested amount (up to Rs. 150,000/- under 80-C). Earned interest is fully 100% tax exempted. PPF final amount is totally tax exempted. Current PPF interest rate is 7.1% effective from Jul 1st, 2021. PPF account has lock-in period of 15 years.
What’s the interest rate for NSC and PPF?
For the quarter ending March 2020, small savings schemes such as the Public Provident Fund (PPF), National Savings Certificate (NSC) will continue to fetch same interest rate. PPF will continue to earn 7.9 per cent during the quarter January to March 2020. The interest rate on PPF scheme is revied by the government every quarter.